PLEASE EXPLAIN IN DETAIL, THANKS IN ADVANCE!

A. Under FIFO, the ending inventory value is?

B. Under LIFO, the ending inventory value is?

C. How would the following transaction affect the balances of assets, liabilities, and equity?

Assets Liabilities Equity

A) Increase Increase No change

B) Increase No change Increase

C) Decrease Decrease No change

D) Decrease No Change Decrease

The following inventory, purchases, and sales data are for the FLM Company. FLM uses the periodic method. No. of Units Sold Inventory Purchases 1st 8 units at $5 each 15 2nd 6 units at $6 each 3rd 4 units at $10 each Beginning Inventory 4 at $4 each