Question $4(0\mathrm{.}75$ points$)$

Cortez Company sells chairs that are used at computer stations. Its beginning

inventory of chairs was $100$ units at $$60$ per unit. During the year, Cortez made two

batch purchases of this chair. The first was a $150-$unit purchase at $$68$ per unit and

the second was a $200-$unit purchase at $$72$ per unit. During the period Cortez sold

$270$ chairs.

Using the LIFO inventory method, what is the amount of product costs that would

allocated to cost of goods sold and ending inventory?

Cost of goods sold $=$$$24,600$;

ending inventory $=$$$6,000$

Cost of goods sold $=$$$11,440$

ending inventory $=$$$19,160$

Cost of goods sold $=$$$19,160$;

ending inventory $=$$$11,440$

Cost of goods sold $=$$$15,300$;

ending inventory $=$$$15,300$