exercise 6. Kettle Company made the following purchases of Product A in its first year of operations:UnitsUnitCostJanuary21,400@$7.40March311,200@7.00July52,400@7.60November11,800@8.00The ending inventory that year consisted of 2,400 units. Kettle uses periodic inventory procedure.1.Compute the cost of the ending inventory using each of the following methods: (1) FIFO, (2) LIFO, and (3) weighted-average.2.Which method would yield the highest amount of gross margin? Explain why it does. Must be in excel with formulas.