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I just want to know how to solve it Questions 6, 7, and 8 are based on the table provided: A new company in its

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Questions 6, 7, and 8 are based on the table provided: A new company in its first year of operations purchases six products on sale in the order and the costs as shown: Unit #1 Cost per Unit $ 5 $10 $12 $15 $17 #5 #6 $19 6. If the company uses the cost flow assumption of FIFO, what would be the total cost of goods sold if three units are sold, and the corresponding ending inventory cost to be reported in the balance sheet? (a) Cost of goods sold = $27; Ending inventory = $51. for Cost of goods sold = $51; Ending inventory = $27. (c) Cost of goods sold = $39; Ending inventory = $39. (d) Cost of goods sold = $32; Ending inventory = $46. 7. What would the cost of goods sold and ending inventory be if LIFO was used instead? (a) Cost of goods sold = $27; Ending inventory = $51. CHAPTER 2 The Balance Sheet (b) Cost of goods sold = $51; Ending inventory = $27. (C) Cost of goods sold = $39; Ending inventory = $39. (d) Cost of goods sold = $32; Ending inventory = $46. 8. What if the average cost method was used instead? (a) Cost of goods sold = $27; Ending inventory = $51. (b) Cost of goods sold = $51; Ending inventory = $27. (c) Cost of goods sold = $32; Ending inventory = $46. (d) Cost of goods sold = $39; Ending inventory = $39. 9. Assuming a period of inflat

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