Question: Use my Chapter 9 notes to help answer the questions below, 1. Suppose that Dom began a landscaping business in 2018 In that year, he
Use my Chapter 9 notes to help answer the questions below, 1. Suppose that Dom began a landscaping business in 2018 In that year, he adopted the last-in first-out (LIFO) inventory-flow method for his business inventory of shrubbery by using it for the year on his tax return. In 2018, he purchased the following foar batches of shrubs (toal cost per bach below) Shrubs July 21 150 October 30 2,200 November 10 $2,700 Purchase Date Direct Cost S 2,000 August 15 2,000 100 Other Imventoriable Costs Total Cost 200 S 200 S 2,200 $ 2.100 100 140 S 400 $ 100 $ 2,600 $ 2,800 In 2018, Dom sold 200 shrubs. In 2019, Dom parchased three more batches of shrubs at the following total cost per batch below. Just before year end in 2019, he also sold 50 shrubs: Shrubs Early spring Summer Fall Purchase Da Total Cost 100 125 100 $ 2400 2,500 2,600 a. (10 points) What cost of goods sold and ending inventory would Dom recond if he elects to use the LIFO method in 20187 b. (10 points) What will be his cost of goods sold and ending inventory in 2019 under the LIFO method? e (10 points) How would you answer (a) change if Dom had initially selected the first-in, first-0 (FIFO) method instead of LIFO? d. (10 peints) How would you answer (b) change if Dom had initially selected the first-in, first-out (FIFO) method instead of LIFO
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