(b)

Compute the ending inventory under LIFO.

(c)

Compute the ending inventory under moving-average cost.

Exercise 6-16 a-c (Part Level Submission) Sheffield Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $300 each. On January 10, Sheffield purchased 6 units at $370 each. The company sold 2 units on January 8 and 5 units on January 15 Compute the ending inventory under FIFO. (Round answer to O decimal places, e.g. 1,250.) FIFO The ending inventory Click if you would like to Show Work for this question: Show Wor Attempts: 0 of 3 used SURMTT ANSWED SAVE FOR LATER