Question: Please explain how you get each answer Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units

Please explain how you get each answer Required: 1. Calculate the numberand cost of goods available for sale. 2. Calculate the number ofunits in ending inventory. 3. Compute the cost of ending inventory and

Please explain how you get each answer

Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO and (b) LIFO. 4. Prepare an income statement that shows the FIFO method and LIFO method. 5. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Compute the cost of ending inventory and cost of goods sold under (a) FIFO and (b) LIFO. Complete this question by entering your answers in the tabs below. repare an income statement that shows the FIFO method and LIFO method. Complete this question by entering your answers in the tabs below. Which inventory costing method minimizes income taxes

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