During 20X5, Baker Company and Baumer Company made the following identical purchases September 1st 100 units $10.00 October 1st 200 units $10.50 November 1st 200 units @ $11.50 December 1st 100 units $12.00 On December 31st each company sold 400 units, but Baker uses Average Cost inventory valuation and Baumer uses FIFO inventory valuation. Assume there was m beginning inventory A Calculate cost of goods sold and ending inventory for each company B. How will the difference in cost of goods sold affect net income? Short Answer Jooter navigation BIVS F = = iii < 7