Requirements

Compute cost of goods sold and ending inventory, using each of the

following methods:

a$.$ Specific identification, with two $$165$ units and six $$175$ units still on hand

at the end

b$.$ Average cost

c$.$ FIFO

d$.$ LIFO

Which method produces the highest cost of goods sold? Which method

produces the lowest cost of goods sold? What causes the difference in cost of

goods sold?

Data table

Question $7$