Question: Use the data for Arrow Corporation in E6-32B to answer the following. Requirements 1. Compute cost of goods sold and ending inventory using each of

Use the data for Arrow in E6-32B to answer the following.
Requirements
1. Compute cost of goods sold and using each of the following methods:
a. Specific unit cost, with seven $165 units and four $175 units still on hand at the end
b. Average cost
c. FIFO
d. LIFO
2. Which method produces the highest cost of goods sold? Which method produces the lowest cost of goods sold? What causes the difference in cost of goods sold?

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