Question: Review the data in Exercise 6-21. Requirements 1. Compute the cost of goods sold under FIFO. 2. Compute the cost of goods sold under LIFO.

Review the data in Exercise 6-21.
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 goods sold?

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