Question: Assume that Western Sporting Goods bought and sold a line

Assume that Western Sporting Goods bought and sold a line of mountain bikes during May as follows:


Western Sporting Goods uses the perpetual inventory system.

Requirements
1. Compute the cost of ending inventory under FIFO.
2. Compute the cost of ending inventory under LIFO.
3. Which method results in higher cost of endinginventory?
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  • CreatedApril 29, 2014
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