Question: Help w 18 and 19 please , 18. using LIFO the cost assigned to ending inventory is 19. Which inventory method is used for income

Help w 18 and 19 please , 18. using LIFO the cost assigned to ending inventory is 19. Which inventory method is used for income tax purposes must also be used for reporting purposes? Please show work to follow

18. Use this information to answer the following question Oct. Inventory 200 units @ $12.00 Oct. 6 Purchase 300 units @ $13.20 Oct. 13 Purchase 100 units @ $14.40 Oct. 20 Purchase 200 units @ $15.60 Oct. 25 Purchase 40 units @ $16.80 Total sales 620 units A periodic inventory system is used Using LIFO, the cost assigned to ending inventory is $3.480.00 b. $8.112.00 C. $2,664.00 $8,928.00 19. Which of the following inventory methods when used for income tax purposes must also be used for reporting purposes? Specific identification LIFO C. FIFO Average-cost +

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