Question: Refer to the data for Western Sporting Goods in E5-19A. Requirements 1. Compute the cost of goods sold under FIFO. 2. Compute the cost of

Refer to the data for Western Sporting Goods in E5-19A.

Requirements
1. Compute the cost of goods sold under FIFO.
2. Compute the cost of goods sold under LIFO.
3. Which method results in the higher cost of goodssold?

Date May Balance Item Quantity Unit Cost $250 5 Sale 12 Purchase 21 Sale 30 Sale 17 $240

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