Yount Company reports the following for the month of June.

Instructions(a) Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO and(2) LIFO.(b) Which costing method gives the higher ending inventory? Why?(c) Which method results in the higher cost of goods sold?Why?

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Unit Cost Total Cost Units 200 June 1 Inventory 12 Purchase 23 Purchase 30 Inventory $5 $1.000 1,800 3,500 300 500 120