Regardless of the cost formula being used (FIFO, average cost, specific identification), the sum of cost of

Question:

Regardless of the cost formula being used (FIFO, average cost, specific identification), the sum of cost of sales plus will be the same. Explain why.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...