Heres the example question and answer

Here is the question:

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Navy Seals Surplus began October 2021 with 80 stoves that cost $15 each. During the month, the company made the following purchases at cost: 'Click the icon to view the purchases.) The company sold 275 stoves, and at October 31 , the ending inventory consisted of 45 stoves. The sales price of each stove was $45. Read the requirements. Requirement 1. Determine the cost of goods sold and ending inventory amounts for October under the average-cost, FIFO, and LIFO costing methods. P Requirement 2. Explain why cost of goods sold is highest under LIFO. Be specific. Under LIFO the cost of goods sold is the highest because costs are and LIFO assigns the to cost of goods sold. Requirement 3 . Prepare the Navy Seals Surplus income statement for October. Report gross profit. Operating expenses totaled $3,500. The company us Ammed Forces Surplus began July 2021 with 80 stoves that cost $20 each. During the month, the company made the following purchases at cost. (Click the icon to view the purchases.) The company sold 288 stoves, and at July 31 , the ending inventory consisted of 62 stoves. The sales price of each stove was $46. Read the Requirement 1. Determine the cost of goods sold and ending inventory amounts for July under the average-cost, FIFO, and LIFO costing methods. Re Data table