The following contains information from the 2020 balance sheet of Kayla Enterprises, all amounts have been rounded to millions of dollars. 
Answer the following questions:
A)Describe what costs are included in each of the three types of inventories listed for Kayla Enterprises.
B)Even though a footnote describing the inventory costing method(s) used by the company is not provided here, what can you conclude about the inventory costing methods(s) used by the company?
C)Explain what the amount "Adjustment to LIFO" represents. What effect does this adjustment have on the company's net earnings in 2019 and 2020?
Definitions:
Bushels
A unit of volume that is used for measuring agricultural commodities, with the exact size varying by product and region.
Marginal Cost
The money needed to produce an additional unit of a product or service.
Average Variable Cost
The total variable costs divided by the quantity of output produced, representing the variable cost incurred to produce each unit of output.
Marginal Cost
The leap in all-encompassing expenses associated with the production of an additional unit of a product or service.
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