Given a Particular Set of Facts and Assumptions,the Following Pairs $\$ 20,650$

Essay

Given a particular set of facts and assumptions,the following pairs of amounts were computed using FIFO and LIFO.For each pair of amounts,indicate which amount resulted from applying FIFO,and which amount resulted from applying LIFO. A. Prices are increasing, ending inventory
is:
1. $\$ 20,650$
2. $\$ 19,400$
B. Prices are increasing, cost of goods sold is:
1. $\$ 10,650$
2. $\$ 9,400$
C. Prices are decreasing, ending inventory is:
1. $\$ 5,500$
2. $\$ 5,000$
D. Prices are decreasing, cost of goods sold is:
1. $\$ 6,200$
2. $\$ 7,000$