Question: long question answer Case Analysis 18. Read the case situation given below and answer the questions that follow: Fishtail Foods Company records for the month

 long question answer Case Analysis 18. Read the case situation given
long question answer

Case Analysis 18. Read the case situation given below and answer the questions that follow: Fishtail Foods Company records for the month of October reveal the following: Inventory, October 1 150 units @ Rs. 27 October 4, Purchase 188 units @ Rs. 25 October 7, Sale 225 units @ Rs. 63 October 13, Purchase 165 units @ Rs. 26 October 19, Purchase 113 units @ Rs. 26 October 23, Sale 285 units @ Rs. 64 October 26, Purchase 150 units @ Rs. 25 October 28, Sale 82 units @ Rs. 65 Required: i. Calculate the cost of goods sold and ending inventory under each of the following three methods: (a) FIFO, (b) LIFO, and (c) Weighted Average Cost. [Assume perpetual inventory system] ii. Which costing method will be beneficial for Fishtail Foods Company? Justify your

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