Current Attempt in Progress Compare the financial effects (ignore income tax) of using the FIFO and...

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Current Attempt in Progress Compare the financial effects (ignore income tax) of using the FIFO and average inventory cost formulas during a period of declining prices on the following items: (1) Cash (2) Ending inventory (3) Cost of goods sold (4) Net income (5) Retained earnings Average inventory cost FIFO method method Current Attempt in Progress Compare the financial effects (ignore income tax) of using the FIFO and average inventory cost formulas during a period of declining prices on the following items: (1) Cash (2) Ending inventory (3) Cost of goods sold (4) Net income (5) Retained earnings Average inventory cost FIFO method method