Question: Current Attempt in Progress Kingbird, Inc had 145 units in beginning inventory at a total cost of $18,125. The company purchased 290 units at a
Current Attempt in Progress Kingbird, Inc had 145 units in beginning inventory at a total cost of $18,125. The company purchased 290 units at a total cost of $58,000. At the end of the year, Kingbird had 70 units in ending inventory. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to decimal places, eg. 1.250) FIFO LIFO Average-cost $ $ The cost of the ending inventory The cost of goods sold $ $ eTextbook and Media Which cost flow method would result in the highest net income? e Textbook and Media Which cost flow method would result in inventories approximating current cost in the balance sheet? e Textbook and Media Which cost flow method would result in Kingbird paying the least taxes in the first year? e Textbook and Media
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