E6-30B. (Learning Objective 2, 3: Determining ending inventory and cost of goods sold by four methods) Use the data for Riva’s, Inc., in Exercise 6-29B to answer the following.

Requirements 1. Compute cost of goods sold and ending inventory using each of the following methods:

a. Specific unit cost, with four $150 units and six $160 units still on hand at the end

b. Average cost

c. FIFO

d. LIFO 2. 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?