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Alta Ski Company's inventory records contained the following information regarding its latest ski model. The...

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Accounting

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Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. Beginning inventory, January 1, 2018 Purchases: 950 units$60 each January 15 January 21 2,000 units $75 each 1,800 units $80 each Sales: January S 900 units $100 each 1,300 units $110 each 750 units $115 each January 22 January 29 Ending inventory. January 31, 2018 1,800 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. Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods Complete this question by entering your answers in the tabs below Req 1A and 1B Req 2 which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2018 and highest ending inventory balance? ! Hahest cost of goods sold fgure 1b Highest ending inventory balance

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