fifo method

lifo method

weighted average

For the entire year, the company sells 450 units of inventory for $70 each. Exercise 6-4A Part 1 Required: 1. Using FIFO, calulate ending inventory, cost of goods sold, sales revenue, and gross profit. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cos per unit" to 2 decimal places and all other answers to the nearest whole number.) For the entire year, the company sells 450 units of inventory for $70 each. ercise 6-4A Part 4 Determine which method will result in higher profitability when inventory costs are rising. Multiple Choice FIFO UFFO Weighted-average