Vishnu Requireda-1. Determine the amount of product costs that would be allocated to cost of goods sold, assuming that Cortez uses FIFO.a-2. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses FIFOb-1. Determine the amount of product costs that would be allocated to cost of goods sold, assuming that Cortez uses LIFO.b-2. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses LIFO.c. Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortezuses Weighted average.Complete this question by entering your answers in the tabs below.Reg A1Reg 81Req 82Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses LIFO.EndingInventoryReg A2LIFOUnits100 at100Req CUnit CostReq B16860S06,0006.000Req C > Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit. Duringthe year Cortez made two batch purchases of this chair. The first was a 150-unit purchase at $68 per unit; the second was a 200-unitpurchase at $72 per unit. During the period, it sold 270 chairs.Bequiredrico

The various methods for inventory valuation are FIFO, LIFO and average method. FIFO stands for First…

Required a-1. Determine the amount of product costs that would be allocated to cost of goods sold, assuming that Cortez uses FIFO. a-2. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses FIFO b-1. Determine the amount of product costs that would be allocated to cost of goods sold, assuming that Cortez uses LIFO. b-2. Determine the amount of product costs that would be allocated to ending inventory, assuming that Cortez uses LIFO. c. Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Corte uses Weighted average.