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Suppose a company ABC Limited has the following purchase history in 2021: The company was...

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Accounting

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Suppose a company ABC Limited has the following purchase history in 2021: The company was able to sell 6500 units at $50 per unit. Based on the information, answer the following. a) Calculate the cost of goods sold under the FIFO, LIFO, and the average cost method. What do you observe? (Hint: which one is highest in the middle, and the lowest) b) Calculate the value of the remaining inventory under the FIFO, LIFO, and the average cost method. What do you oberserve

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