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Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers
Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 1,250.) FIFO The ending inventory $ The cost of goods sold (c) eTextbook and Media 5.350 LIFO 4,260 AVERAGE-COST 4,935 25.670 26,760 26085 Attempts: 1 of 3 used Which cost flow method results in the highest inventory amount for the balance sheet? The highest cost of goods sold for the income statement? FIFO LIFO results in the highest inventory amount. $ produces the highest cost of goods sold, $
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