30 of 214 17. Purchase and sales for tw e ntory products we Beginning inventory Purchases, March 16 Sales, April 28 1. Compute cost of goods sold for eac Inventory costing methods Between FIFO and LIFO, which method is preferable in terms Income taxes paid (cash flow)? difference between the Balance Sheet items of Common Stock, Additional Pai zal Surplus), Treasury Stock, and Retained Earnings