Question 1 Not complete Marked out of 5.00 Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cost Assume that Madden Company reports the following initial balance and subsequent purchase of inventory. $ Inventory balance at beginning of year $117,000 Inventory purchased during the year 183,600 Cost of goods available for sale during the year 1,800 units $300,600 Assume that 1,200 units are sold during the year. Compute the cost of goods sold for the year and the inventory on the a. FIFO b. LIFO C. Average Cost $ COGS PFlag question 780 units @ $150 each 1,020 units @ $180 each Ending Inventory $ $ year-end

Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cost Assume that Madden Company reports the following initial balance and subsequent purchase of inventory. Assume that 1,200 units are sold during the year. Compute the cost of goods sold for the year and the inventory on the year-en Computing Cost of Coods Sold and Inding inventery Under Fro, uro, and Average Cout Aavume that Madden Compary repors the following inltial bylance and sudsequent purchase of