Using the information provided in BE10- 5, assume that Spider uses the LIFO method. Determine Spider€™s ending inventory and cost of goods sold under the LIFO perpetual basis.

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Sales in Units Transaction Beginning inventory 1/1 Purchases March 30 July 15 September 1 Total available for sale Units sold September 1 Units Unit Cost Total Cost 3,500 S50 $175,000 5,000 1,000 65 72 325,000 72,000 6,100 9,500 6,100) 3,400 572,000 Ending inventcry