SWAT Team Surplus began May 2018 with 80 stoves that cost $10 each. During the month, the company made the following purchases at cost: (Click the icon to view the purchases.) The company sold 295 stoves, and at May 31, the ending inventory consisted of 65 stoves. The sales price of each stove was $48. Read the requirements. Requirement 2. Explain why cost of goods sold is highest under LIFO. Be specific. Under LIFO the cost of goods sold is the highest because costs are and LIFO assigns the to cost of goods sold. Requirement 2. Explain why cost of goods sold is highest under LIFO. Be specific. Under LIFO the cost of goods sold is the highest because costs are and LIFO assigns the to cost of goods sold. expense to the nearest whole dollar.)