Question: Using the information provided below and compute the value of closing inventory (total unit of ending inventory and total cost of ending inventory) by FIFO,

Using the information provided below and compute the value of closing inventory (total unit of ending inventory and total cost of ending inventory) by FIFO, LIFO and Average Cost methods. Then find the cost of goods sold for each one of them. Date Purchases 1-Aug 120 units @ $120 8-Aug 50 units @ $125 16-Aug 20 units @ $140 20-Aug 30 units @ $150 Date 6-Aug 10-Aug 25-Aug Sales 100 units @ $140 55 units @ $145 40 units @ $160

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