Kelso Electrical’s inventory records for industrial switches indicate the following at November 30, 2023:

The physical count of inventory at November 30, 2023, indicates that six units remain in ending inventory and the company owns them.

Required

Compute ending inventory and cost of goods sold using each of the following methods, assuming a periodic inventory system is used:

1. Specific-unit cost, assuming three $170 units and three $180 units are on hand on November 30, 2023

2. Weighted-average cost

3. First-in, first-out (FIFO)

Transcribed Image Text:

Nov. 1 Beginning inventory 8 Purchase 15 Purchase 26 Purchase 14 units at $160 4 units at $170 11 units at $180 5 units at $200