Prepare a worksheet to track the following inventory related transactions.

Aug 1 beginning balance 10 units @ $91=$910

Aug 3 Purchased 15 @$106=$1590

Aug 17 Purchased 20 @$115=$2300

A. What is Cost of Goods Sold if on August 31 this company, who uses the LIFO inventory method, sold 30 units?

B. What is ending inventory on the balance sheet? (LIFO)

C. What is the cost of goods sold if the company instead used the FIFO inventory method and sold 40 units on Aug 31?

D. What would ending inventory be?