Brutus Corporation, a newly formed corporation, has the following transactions during May, 2011, it’s first month of

Brutus Corporation, a newly formed corporation, has the following transactions during May, 2011, it’s first month of operation.

May 1   Purchased 500 units @ $25.00 each

May 4    Purchased 300 units @ $24.00 each

May 8    Purchased 700 units @ $23.00 each

May 20    Purchased 250 units @ $25.25 each 

May 28   Purchased 550 units @ $26.00 each

Total Units sold= 1,525. 

Calculate cost of merchandise sold, and ending inventory using each of the following inventory methods:

FIFO Periodic

LIFO Periodic