P$6-2$A Determine cost of goods sold and ending inventory using FIFO. LIFO. and average$-$cost with analysis. Use an excel spreadsheet.

$($a$)$ Determine the cost of goods available for sale.

$($b$)$ Determine $(1)$ the ending inventory and $(2)$ the cost of goods sold under each of the

assumed cost flow methods $($FIFO$,$ LIFO and average cost$).$ Prove the accuracy of the

cost of goods sold under the FIFO and LIFO methods.

$($c $)$ Which cost flow method results in $(1)$ the highest inventory amount for the balance sheet and

$(2)$ the highest cost of goods sold for the income statement?