May 1 Beginning Inventory............. 6 units @ $ 150 = $ 900

15 Purchase............................. 4 units @ 151 = $ 604

26 Purchase............................. 14 units @ 160 = $2,240

Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific unit cost, with five $150 units and five $160 units still on hand at the end b. Average cost c. FIFO d. LIFO Which method produces the highest cost of goods sold? Which method produces the lowest cost of goods sold? What causes the difference in cost of goods sold