The White Wove Corporation began operations in 2002. A summary of the first quarter appears below.

The White Wove Corporation used the LIFO perpetual inventory method and correctly computed an inventory value of \($38,300\) at the end of the first quarter Manasement is considerins chansing to a FIFO costing method. They have also considered using a periodic system instead of the perpetual system presently being used. You have been hired to assist management in making the decision. What would you advise?

Transcribed Image Text:

Units Total Cost Purchases: January 2 250 $23,250 February 11 100 9,500 February 20 400 38,400 March 21 200 19,600 March 27 225 22,275