Dundas Company's inventory records for its retail division show the following at March 31 EEE (Click the icon to view the accounting records.) At March 31, 8 of these units are on hand Read the requirements Requirement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods: specific identification, then (b) average cost, then () FIFO, and finally (d) LIFO (Round the average cost per unit to the nearest cent Roune answers to the nearest whole dollar) Number of units Specific identification Average cost FIFO LIFO Cost of goods sold 12 Ending inventory What causes the difference in cost of goods sold? Which method produces the highest cost of goods sold? LIFo Which method produces the lowest cost of goods sold? FiFO The difference in cost of goods sold under the two methods identified above was caused by Requirement 2. which method produces the highest cost of ods old7 Which method produces the lowes cost of goods sold? ton O Data Table Mar 1 Beginning inventory6 units 165 990 5 units@ 166 830 9 units 175 $ 1,575 15 Purchase 26 Purchase Print Done Enter any number in the edit fields and then continue to ine next question Save for Later Dundas Company's inventory records for its retail division show the following at March 31 EEE (Click the icon to view the accounting records.) At March 31, 8 of these units are on hand Read the requirements Requirement 1. Compute cost of goods sold and ending inventory, using each of the following four inventory methods: specific identification, then (b) average cost, then () FIFO, and finally (d) LIFO (Round the average cost per unit to the nearest cent Roune answers to the nearest whole dollar) Number of units Specific identification Average cost FIFO LIFO Cost of goods sold 12 Ending inventory What causes the difference in cost of goods sold? Which method produces the highest cost of goods sold? LIFo Which method produces the lowest cost of goods sold? FiFO The difference in cost of goods sold under the two methods identified above was caused by Requirement 2. which method produces the highest cost of ods old7 Which method produces the lowes cost of goods sold? ton O Data Table Mar 1 Beginning inventory6 units 165 990 5 units@ 166 830 9 units 175 $ 1,575 15 Purchase 26 Purchase Print Done Enter any number in the edit fields and then continue to ine next question Save for Later