gs purchased on June 1 at a cost of th I for $48. The last player othen With serial tians purchased On N Ovember Electronics used the specific identific rnber. premium h0d, how might it alter its by "selectively particular inventor-y method, FIFO or specific identification, do you Zd that Company reoo:ts the following for the month of June. E:planation Units UnitCost Total Cost June 1 12 Purchase $5 S 600 370 23 Purchase 6 2.220 200 30 Inven tory 7 1.400 230 compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost. (Round average unit cost to three decimal places.) lb) Which costing method gives the highest ending inventory? The highest cost of goods sold? Why? t) How do the average-cost values for ending inventory and cost of goods sold relate to ending inventory and cost of goods sold for FIFO and LIFO? d) Explain why the average cost is not $6. E68 The following comparative information is available for Rose Company for 2017. UFO. FIFC Sales revenue Cost of goods sold Operating expenses (including depreciation) $86,000 38,000 27,000 10,000 FIFO $86,000 29,000 27,000 10,000 32,000 Cash paid for inventory purchases 32,000