iequired:

a$.$ Which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January $2024?$

b$.$ Which method will result in the highest ending inventory balance?

Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods.

a$.$ Assume that inventory costs were declining during January. The inventory purchased on January $15$ had a unit cost of $$70,$ and the

iventory purchased on January $21$ had a unit cost of $$65.$ All other information is the same. Which method, FIFO or LIFO, will result in

he highest cost of goods sold figure for January $2024?$

b$.$ Which method will result in the highest ending inventory balance?

c$.$ Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods.

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

Req $1$ A and $1$ B

Req $2$

Req $3$A and $3B$

Req $3$C $-$ Fill in the missing numbers

Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods.