Solution-Compute the cost of the ending inventory

Compute the cost of the ending inventory

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Reference no: EM132562305

Question - Kettle Company made the following purchases of Product A in its first year of operations.

	Units	Unit Cost
January 2	1600	$8.50
March 31	1400	$9.00
July 5	2600	$8.80
November 1	1600	$8.60

Ending inventory that year consisted of 2,600 units. Kettle uses periodic inventory procedure.

Required -

1. Compute the cost of the ending inventory using each of the following methods: (1) FIFO, (2) LIFO, and (3) weighted average.

2. Which method would yield the highest amount of gross margin? Explain why it does.

Reference no: EM132562305

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Compute the cost of the ending inventory

Reference no: EM132562305

Reference no: EM132562305

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