- Noor Co. uses a periodic inventory system. Its records show the following for the month

of May, in which 65 units were sold.

Date	Explanation	Units	Unit Cost	Total Cost
May 1	Inventory	30	$ 8	$240
15	Purchases	25	11	275
24	Purchases	35	12	420
Totals		90		$935

Instructions: Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. Prove the amount allocated to cost of goods sold under each method.