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Calculate ending inventory and COGS using FIFO and LIFO methods for ABC Inc. a) On April 1, 2022 the balance in inventory is 220 units
Calculate ending inventory and COGS using FIFO and LIFO methods for ABC Inc.
a) On April 1, 2022 the balance in inventory is 220 units @ $50 each
b) April 5, 2022 purchased 100 units @ $60 each
c) Purchased 50 units @ $45 each on April 10, 2022
d) Sold 300 units @ $80 each on April 16, 2022
e) Sold 20 units @ $95 each on April 25, 2022
f) Purchased 200 units @ $40 each on April 30, 2022
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