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The inventory records of Kuffel Company reflected the following information for the year ended December...

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Accounting

The inventory records of Kuffel Company reflected the following information for the year ended December 31,2022:
Required:
a. Assume that Kuffel Company uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO and
LIFO.
b. Assume that Kuffel Company uses a perpetual inventory system. Calculate cost of goods sold and ending inventory under FIFO and
LIFO.
c. LIFO results are different for parts a and b as timing of the application of LIFO rules is relevant.
Complete this question by entering your answers in the tabs below.
Req A and B
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