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Kelso Electricals inventory records for industrial switches indicate the following at November 30, 2020:Nov. 1 Beginning inventory 14 units at $1608 Purchase 4 units at
- Kelso Electrical’s inventory records for industrial switches indicate the following at November 30, 2020:Nov. 1 Beginning inventory 14 units at $1608 Purchase 4 units at $17015 Purchase 11 units at $18026 Purchase 5 units at $200The physical count of inventory at November 30, 2020, indicates that six units remain in ending inventory and the company owns them. Required:- Compute ending inventory and cost of goods sold using each of the following methods, assuming a periodic inventory system is used:1. Specific-unit cost, assuming three $170 units and three $180 units are on hand on November 30, 20202. Weighted-average cost3. First-in, first-out (FIFO)
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