Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Snow-Tech uses a perpetual inventory system. (Round FIFO answers to the nearest whole dollar, e.g. 5,275 and Average cost answers to 2 decimal places, e.g. 15.25.) Average Cost of goods sold s Ending inventory $ SHOW SOLUTION Cost of goods sold Ending inventory FIFO $ $ Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Snow-Tech uses a periodic inventory system. (Round FIFO answers to the nearest whole dollar, e.g. 5,275 and Average cost answers to 2 decimal places, e.g. 15.25.) FIFO Average $

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyz…