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Question 4 Madison Outlet has the following inventory transactions for the year: + Date Jan 1 Unit Cost $200 Transaction Number of Unites Beginning 10

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Question 4 Madison Outlet has the following inventory transactions for the year: + Date Jan 1 Unit Cost $200 Transaction Number of Unites Beginning 10 inventory Purchase 15 Total Cost $2,000 Mar 14 300 4,500 $6,500 6,000 12 500 Jan 1-Dec 31 Total sales to customers O What amount would Madison report for Cost of Goods Sold and Ending Inventory using 1.FIFQ, 2. LIFO and 3. Average Cost Flow assumption? 1

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