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MusicYear specializes in sound equipment. Company records indicate the following data for a line of speakers: Mar 1 Balance 1 4 $ 4 9 Mar

MusicYear specializes in sound equipment. Company records indicate the following data for a line of speakers:
Mar 1
Balance
14
$49
Mar 2
Purchase
6
54
Mar 7
Sale
6
$117
Mar 13
Sale
7
91
Determine the amounts that MusicYear should report for cost of goods sold and ending inventory two ways: a. FIFO and b. LIFO.

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