Sheffield Company had 100 units in beginning inventory at a total cost of $12,000. The company purchased 200 units at a total cost of $30,000. At the end of the year, Sheffield had 71 units in ending inventory.

A. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average cost.

PLEASE give me an explanation as to how you found the answer. I want to actually learn this.

	FIFO	LIFO	Avg Cost
Cost of ending inventory
COGS