Exercise 6-06 (Video) Coronado Co. uses a periodic inventory system. Its records show the following for the month of May, in which 71 units were sold. Unit Units Cost Total Cost May 1 Inventory 34 $11 $374 15 Purchases 27 14 378 24 Purchases 32 15 480 Totals 93 $1,232 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Ending inventory at May 31 24 Cost of goods sold Click if you would like to Show Work for this question: Open Show Work

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