Using the information above, complete the table for FIFO, LIFO, and Weighed Average Cost and answer the question.

The cost of the model airplane kits is increasing $($inflation$).$ Using the cost schedules and the summary table from above, answer each question on how the different cost methods affect the financial statements during inflation.

Which costing method gives the highest cost of goods sold?

Which costing method gives the highest profit before operating expenses?

Which costing method gives the highest cost of inventory on hand?

Which costing method provides the most revenue?