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4. Army-Navy Surplus began March with 75 tents that cost $16 each. During the month, Army-Navy Surplus made the following purchases at cost: Mar 3

image text in transcribed 4. Army-Navy Surplus began March with 75 tents that cost $16 each. During the month, Army-Navy Surplus made the following purchases at cost: Mar 3 95 tents @$18 $1,710 17 165 tents @ $203,300 23 36 tents @$21 = $ 756 Army-Navy Surplus sold 318 tents, and at March 31, the ending inventory consists of 53 tents. The sale price of each tent was $45. Determine the cost of goods sold and ending inventory amounts for March under the FIFO cost, and LIFO cost. (Show your solution step by step) (10 POINTS)

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