ute cost of goods sold and ending inventory, using each of the following four inventory methods: umber of m, then (6) nearest w i Data Table X sold and er unit to the n Number of units Dec 1 Beginning inventory. 15 Purchase. 6 units @ $ 165 = $ 990 5 units @ 166 = $ 830 26 Purchase. 10 units @ 175 = $ 1.750 Print Done i Requirements ute un 1, nel nd endir the near Vy of 1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific identification, with three $165 units and six $175 units still on hand at the end b. Average cost c. FIFO d. LIFO 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? Print Done e b) Number (a) (b) (c) (d) of units Specific identification Average cost FIFO LIFO Cost of goods sold Ending inventory Requirement 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? which method produces the highest cost of goods sold? which method produces the lowest cost of goods sold? The difference in cost of goods sold under the two methods identified above was caused by Choices for which method produces highest/lowest cost of goods sold: FIFO, LIFO, AVERAGE COST, SPECIFIC IDENTIFICATION Choices for the difference in cost of goods sold under two methods: THE DECREASE IN THE INVENTORY UNIT COST, THE INCREASE IN INVENTORY UNIT COST, THE DIFFERENCE IN THE NUMBER OF UNITS SOLD