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Yellow Inc. has the following information related to purchases and sales of one of its...

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Accounting

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Yellow Inc. has the following information related to purchases and sales of one of its inventory items: Assume that Yellow Inc. uses a perpetual inventory system. a) Calculate the cost of goods sold using the LIFO inventory costing method. 8 marks (show workings) b) Calculate the cost of ending inventory using the LIFO inventory costing method. 2 marks (show workings) c) Calculate the cost of goods sold using the FIFO inventory costing method. 8 marks (show workings) d) Calculate the cost of ending inventory using the FIFO inventory costing method. 2 marks (show workings)

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