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Horizon Furnishings, Inc. completed these inventory transactions during the month of March: DATE ITEM QUANTITY UNIT COST March 1 Balance 10 $90 March 4 Purchase

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Horizon Furnishings, Inc. completed these inventory transactions during the month of March: DATE ITEM QUANTITY UNIT COST March 1 Balance 10 $90 March 4 Purchase 38 87 March 12Sale 42 March 2Purchase 60 S103 March 31 Sale 62 A) Compute the cost of goods sold and the ending inventory if LIFO is used, showing your work below. YOU MUST PLACE YOUR ANSWERS IN THE BOLD OUTLINED BOXES ON THE TOTALS LINE DATE PURCHASES INVENTORY ON HAND COST OF SALES B) Compute the cost of goods sold and the ending inventory if AVERAGE COST is used, showing your work below. YOU MUST PLACE YOUR ANSWERS IN THE BOLD OUTLINED BOXES ON THE TOTALS LINE. COST OF DATE SALES PURCHASES INVENTORY ON HAND VI2 22 TOTAL Calculations for averages

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