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A.) Use the following inventory table to find the cost of goods sold using the last-in, first-out (LIFO) inventory method.
| Date of purchase | Units purchased | Cost per unit | Retail price per unit |
| Beginning inventory | 42 | $840 | $975 |
| February 5 | 22 | $1,760 | $2,105 |
| February 9 | 17 | $945 | $1,206 |
| March 3 | 29 | $490 | $600 |
| Units sold | 72 | | |
The cost of goods sold is_____.
(Type an integer or a decimal.)
B.)
Use the following inventory table to find the cost of goods sold using the first-in, first-out (FIFO) inventory method.
| Date of purchase | Units purchased | Cost per unit | Retail price per unit |
| Beginning inventory | 42 | $850 | $965 |
| February 5 | 25 | $1,770 | $2,105 |
| February 9 | 15 | $955 | $1,205 |
| March 3 | 25 | $490 | $600 |
| Units sold | 73 | | |
The cost of goods sold is_____.
(Type an integer or a decimal.)
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