2 Questions plz

E6.7 (L0 2) Moath Company reports the following for the month of June. Compute inventory and cost of goods soId using FIFO and LIFO. Units Unit Cost Total Cost June 1 Inventory 200 $5 $1,000 12 Purchase 400 6 2,400 23 Purchase 300 7 2,100 30 Inventory 100 Instructions a. Compute the cost ofthe 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? E6.8 (L0 2) Shawn Company had 100 units in beginning inventory at a total cost of $10,000. The company purchased 200 units at a total cost of $26,000. At the end of the year, Shawn had 75 units in ending inventory. Compute Inventory under FIFO, LIFO, and average-cost. Instructions a. Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost. b. Which cost ow method would result in the highest net income? c. Which cost ow method would result in inventories approximating current cost in the balance sheet? d. Which cost ow method would result in Shawn paying the least taxes in the rst year