[ohiostudent119]

I know that FIFO is better, less taxes in involved, but what else will occur?

[Live-Love-Laugh]

I need your help on the following question I can not seem to get this:
Beginning Inventroy: 1,000 units @$10 per unit
Purchases: 3,000 units @$12 per unit
Sales: 3,500 units @$16 per unit
Ending Inventory: 500 units

Compute both the ending inventroy value and cost of goods sold using each of the following calculation methods:

A. Ending Inventory for FIFO
COGS for FIFO

B. Ending Inventory for LIFO
COGS for LIFO

C. Weight average

D. When costs are rising, which method above provides
1. Higher income
2. Higher inventroy balance

E. When costs are falling, which method above provides
1. Higher income
2. Higher inventory balance

[Live-Love-Laugh]

Sorry, I was asking a question