This is question 5

D Question 5 20 pts The following information about Company M's inventory for August is available: Units Cost/Unit August 1 Beginning Inventory 5,000 16.00 August 7 Purchase 4,000 14.00 August 21 Purchase 6,000 19.00 August 29 Purchase 3.000 22.00 At the end of August, Company M reported ending inventory on hand of 7000 units and sold the remainin units. Determine Cost of Goods Sold and Ending Inventory for Company M under both LIFO and FIFO. A. What is Cost of Goods Sold for August if Company M uses LIFO? B. What is Ending Inventory for August if Company M uses LIFO? C. What is Cost of Goods Sold for August if Company M uses FIFO? D. What is Ending Inventory for August if Company M uses FIFO? Edit View Insert Format Tools TableD Question 5 20 pts The following information about Company M's inventory for August is available: Units Cost/Unit August 1 Beginning Inventory 5,000 16.00 August 7 Purchase 4,000 14.00 August 21 Purchase 6,000 19.00 August 29 Purchase 3,000 22.00 At the end of August, Company M reported ending inventory on hand of 7000 units and sold the remainin units. Determine Cost of Goods Sold and Ending Inventory for Company M under both LIFO and FIFO. A. What is Cost of Goods Sold for August if Company M uses LIFO? B. What is Ending Inventory for August if Company M uses LIFO? C. What is Cost of Goods Sold for August if Company M uses FIFO? D. What is Ending Inventory for August if Company M uses FIFO? Edit View Insert Format Tools Table