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1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific unit cost, with seven $165 units and four $175 units still on hand at the end b. Average cost c. First-in, first-out d. Last-in, first-out 2. 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? Number (a) (b) (c) (d) of units Specific unit cost Average cost FIFO LIFO Cost of goods sold Ending inventory Which method produces the highest cost of goods sold? Which method produces the lowest cost of goods sold? average cost The difference in cost of goods sold under the two metho FIFO used by LIFO Enter any number in the edit fields and then continue 2. Which method produces the highest cost of goods sold? Which method produces the low e in cost of goods sold? the decrease in inventory unit cost Which method produces the highest cost of goods sold? the increase in inventory unit cost Which method produces the lowest cost of goods sold? the difference in the number of units sold The difference in cost of goods sold under the two methods identified above was caused by 1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific unit cost, with seven $165 units and four $175 units still on hand at the end b. Average cost c. First-in, first-out d. Last-in, first-out 2. 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? Number (a) (b) (c) (d) of units Specific unit cost Average cost FIFO LIFO Cost of goods sold Ending inventory Which method produces the highest cost of goods sold? Which method produces the lowest cost of goods sold? average cost The difference in cost of goods sold under the two metho FIFO used by LIFO Enter any number in the edit fields and then continue 2. Which method produces the highest cost of goods sold? Which method produces the low e in cost of goods sold? the decrease in inventory unit cost Which method produces the highest cost of goods sold? the increase in inventory unit cost Which method produces the lowest cost of goods sold? the difference in the number of units sold The difference in cost of goods sold under the two methods identified above was caused by