Using the information from RE8-10, calculate Carla Company's cost of goods sold for January and its January 31 inventory using the LIFO method.In RE8-10, Carla Company uses the perpetual inventory system. The following information is available for January of the current year, when Carla Company sold 1,600 units of inventory on January 14.
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Using the FIFO method, calculate Carla Company's cost of goods sold for January and its January 31inventory.