Exercise $6-13$A $($Algo$)$ Perlodic: Inventory costing methods$-$FIFO and LIFO LO P$3$

The company uses a periodic inventory system.

a$.$ Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

b$.$ Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

c$.$ Compute the gross profit for each method.

Complete this question by entering your answers in the tabs below.

Required $A$

Required $C$

Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.