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Determine (1) the ending inventory and (2) the cost of goods sold under the two...

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Accounting

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Determine (1) the ending inventory and (2) the cost of goods sold under the two assumed cost flow methods (FIFO and avera cost). Round average unit cost to 2 decimal places... 25.16 and final answers to decimal places, 2.120.) FIFO AVERAGE-COST The ending inventory E 45 The cost of goods sold E 1470 Attempts: 3 of used c) Which cost flow method results in (1) the lower inventory amount for the statement of financial position, and (2) the lower cost of Boods sold for the income statement? 4 results in the lower inventory amount for the statement of financial position. E W33 results in the lower cost of goods sold, Attempts: 0 of 3 used Submit Answer Show Attempt tory Current Attempt in Progress SkysongBed and Bath had a beginning inventory of 380 units of Product Kimbo at a cost of 6 per unit. During the year. purchases were Feb. 20 210 E7 Aug 12 580 E14 May 5 510 E8 Dec 8 320 @ 15 Skysong Company uses a periodic inventory system. Sales totaled 1.560 units tal Your answer is correct Determine the cost of goods available for sale The cost of goods available for sale 20050 Attempts: 1 of 3 used

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