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13. Badar Company reports the following for the month of July. July 1 Inventory 12 Purchase 23 Purchase 30 Inventory Instructions: Units 300 400
13. Badar Company reports the following for the month of July. July 1 Inventory 12 Purchase 23 Purchase 30 Inventory Instructions: Units 300 400 300 150 Unit Cost Total Cost OMR 8 OMR 2,400 9 3,600 10 3,000 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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