8)
	Date	Description	Quantity
	2/10/2022	Purchased	4 Items @ $20 per item
	3/21/2022	Purchased	5 items @ $19 per item
	4/06/2022	Sold	5 items
	7/26/2022	Purchased	6 items @ $18 per item
	8/18/2022	Sold	7 items
	8/02/2022	Purchased	6 items @ $17 per item
	10/22/2022	Sold	4 items
	11/22/2022	Sold	2 items
	12/22/2022	Purchased	8 items @ $16

a.

Calculate both the ending inventory and the COGS using the LIFO method.

b.

Prepare the Income Statement, Rtatement of Retained Earnings and Balance Sheet assuming the company had cash sales of $100,000

Balance Sheet

Stmt of R/E

Income Stmt

Assets

=

Liabilities

+

Equity

$ -