Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. Required: 10. Which mothod, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2024 ? 1b. Which method will result in the highest ending inventory balance? 2. Compute cost of goods sold for January and the ending inventory using both the FiFO and ufO methods. 30. Assume that inventory costs were declining during January. The inventory purchased on January is had a unit cost of $75, and the inventory puichased on January 21 had a unit cost of $70. Al other information is the same. Which method, FlFO or Lifo will fesilt in the tighest cost of goods sold figure for January 2024? 3b. Which method will result in the highest ending inventory balance? 3c. Compute cost of goods sold for January and the ending inventory ising both the FifO and UFO me thods. Complete this question by entering your answers in the tabs below. Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods 3a. Assume that inventory costs were declining during January. The inventory purchased on January 15 had a unit cost of $75, and the inventory purchased on January 21 had a unit cost of $70. All other information is the same. Which method, FFO or LIFO, will result in the highest cost of goods sold figure for January 2024 ? 3b. Which method will result in the highest ending inventory balance? 3c. Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods. Complete this question by entering your answers in the tabs below. Assume that inventory costs were declining during lanuary, Which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2024 and highest ending inventory bolance? Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods. 30. Assume that inventory costs were declining during January. The inventory purchased on January 15 had a unit cost of $75, and the inventory purchased on January 21 had a unit cost of $70. All other information is the same. Which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2024 ? 3b. Which method will result in the highest ending inventory balance? 3c. Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods. Complete this question by entering your answers in the tabs below. Which inethod, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2024 and highest ending inventory balance? Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a pericdic inventory system. Required: 10. Which inethod, FFO or LIFO, will result in the highest cost of goods sold figure for January 2024? 1b. Which method will result in the highest ending inventory balance? 2. Compate cost of goods sold for Jamuary and the ending inventory using both the Firo and LifO methods. 30. Assume that inventory costs were declining during January. The inventory purchased con January 15 had a unit cost of $75, and the inventory purchased on January 21 had a unit cost of $70. All other information is the same. Which method, FIFO or LIFO, will result in the highest cont of goods soid figure for January 2024 ? 3b. Which method will result in the highest ending inventory balance? 3c. Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods. Complete this question by entering your answers in the tabs below
