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  3. 3) inventory balance and cogs (10 points) sherman

3) Inventory Balance and COGS (10 points) Sherman Electric shows the beginning inventory of a...

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3) Inventory Balance and COGS (10 points) Sherman Electric shows the beginning inventory of a particular product, and the purchases during the current year, as follows: Jan. Mar. Aug. Oct. 1 Beginning Inventory 8 Purchase 11 Purchase 23 Purchase Total available for Sale 45 35 90 30 200 units @ units @ units a units @ units $105 $115 $125 $135 = $4,725 $4,025 $11,250 $4,050 $24,050 = At December 31st, the ending inventory of this product consisted of 55 units. Instruction: (show your calculations and round to 2 decimal places) Determine the cost of the year-End Inventory and the Cost of Goods Sold for this product under each of the following Methods of Inventory Valuation: Inventory at Dec. 31 st Cost of Goods Sold Average Cost First-in, First-out Last-in, First-out If Sherman Electric wants to achieve a high profit end of the year, which method should they choose? Explain fully your

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