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2. Georgia Co. provided you the following details for the year 2017. Beginning inventory 80 units @ $ 15 each First Purchase 150 units @
2. Georgia Co. provided you the following details for the year 2017. Beginning inventory 80 units @ $ 15 each First Purchase 150 units @ $12 Second Purchase 390 units @ $ 13 Third Purchase 250 units @ $ 14 Sales 830 units @ $ 20 Required: [ 8 Marks] Calculate a. Cost of goods sold (COGS) under FIFO [ 3 Marks] b. Cost of goods sold (COGS) under LIFO [3 Marks] c. Ending Inventory under FIFO and LIFO. [2 marks]
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