Alta Ski Company' inventory system. records contained the following information regardling its latest ski model....
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Alta Ski Company' inventory system. records contained the following information regardling its latest ski model. The company uses a periodic Beginning inventory, January 1, 2818 Purchases: sse units $65 each January 1s January 21 1.2ee units @ %8e each 1,e80 units $85 each Sales Danuary 5 January 22 January 29 580 units $185 each 900 units $115 each 358 units$120 each Ending inventory, January 31, 2818 1,e98 units Required 1a. Which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2018? 1b. Which method will result in the highest ending inventory balance? 2. Computo cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods
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