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QUESTION 1 Assume Ava Co has the following purchases of inventory during the first month...

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Accounting

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QUESTION 1 Assume Ava Co has the following purchases of inventory during the first month of operations Number of Units Cost per unit First Purchase 370 2 Second Purchase 190 3.7 Assuming Ava Co sells 304 units at $10 each, what is the ending balance in the inventory account if they use LIFO? QUESTION 2 Assume Huxley has the following purchases of inventory during the first month of operations Number of Units Cost per unit First Purchase 179 21 Second Purchase 475 13:1 Assuming Huxley sells 392 units at $11 each what is the value of the ending inventory if FIFO is used

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