Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods.

$3$a$.$ Assume that inventory costs were declining during January. The inventory purchased on January $15$ had a unit cost of $$70,$ anc

inventory purchased on January $21$ had a unit cost of $$65.$ All other information is the same. Which method, FIFO or LIFO, will resu

the highest cost of goods sold figure for January $2024?$

$3$b$.$ Which method will result in the highest ending inventory balance?

$3$c$.$ 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.

Req $1$ A and $1$ B

Req $2$

Req $3$A and $3B$

Req $3$C

Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods

Please fill out "Number of units sold" ans "number of units in ending inventory" in both fifo and lifo section. Do the same for $3$C