15. Muscat company has the following information for year 2020

Inventory on January 1, Year 2020 Inventories purchased during the year Cost of Goods available for sale Note: 30 units are sold in Year 2020

50 @ OMR 550 50 @ OMR 600

100 units

OMR 27,500 30,000

OMR 57,500

Required: Calculate Cost of Goods Sold and Ending Inventory under LIFO, FIFO and Average

cost methods.