Use the following to answers questions 16 through 20:

The following inventory information is available for Neptune Company for December:

	Units	Unit cost	Total cost
Beginning inventory	5	$18	$90
December 9 purchase	10	22	220
December 16 sale	14
December 20 purchase	10	24	240
December 26 sale	5

1. Assuming Neptune Company uses the periodic inventory system, total cost of goods sold for December under FIFO costing would be:

$438

$412

$418

$406

2. Assuming Neptune Company uses theperiodic inventory system, total cost of goods sold for December under Weighted Average costingwould be:

$406

$438

$418

$412