(Learning Objective 2, 3: Determining ending inventory and cost of goods sold by four methods) Use the data for Ken’s in Exercise 6-16A to answer the following:

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

a. Specifi c unit cost, with three $150 units and six $160 units still on hand at the end.

b. Average cost.

c. First-in, fi rst-out.

d. Last-in, fi rst-out.

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?