Beginning inventory 100 units @ $8.00 = $ 800 Purchase # 1 200 units @ $6.00 = 1,200 Purchase # 2 100 units @ $12.00 = 1,200 Total 400 units $3,200 Ending inventory is 150 units.

1. What is cost of goods sold under LIFO?

2. What is cost of goods sold under FIFO?

3. What is ending inventory under the average cost method?

Answer rating: 100% (QA)

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