Suppose a technology company's inventory records for a particular computer chip indicate the following at October 31 :

The physical count of inventory at October 31 indicates that 8 units of inventory are on hand.
{Requirements}
Compute ending inventory and cost of goods sold using each of the following methods, using the periodic inventory system. Round all amounts to the nearest dollar.
1. Specific unit cost, assuming four \(\$ 160\) units and four \(\$ 170\) units are on hand 2. Weighted-average cost 3. First-in, first-out cost 4. Which inventory costing method resulted in the highest cost of ending inventory? Explain your answer.

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Oct. 1 1852 Beginning inventory Purchase...... Purchase..... 26 Purchase... 5 units @ $160 = $ 800 4 units 160 = 640 11 units @ 5 units @ 170 180 = = 1,870 900