Excercise 5-25

The following information is avaible concerning the inventory of Carter inc,

1. caluclate ending inventory and cost of goods sold for each of the following three methods:a wieughed average b. FIFO c. LIFO

2. Assume an estimated tax rate of 30% how much more or less will carter pay in taxes by using FIFO instead of LIFO? Explain your answer

3. Assume that carter prepares its financial statement ub accordance with IFRS. Which costing method should it sue to pay the least amount of taxes? Explain your answer.