The following information is for the inventory of mini-kettles at Bramble Company Limited for the month of May:

Date		Transaction		Units In			Unit Cost			Total			Units Sold			Unit Price			Total
May 1		Balance		140				$4.20		$588
6		Purchase		810				4.40		3,564
7		Sale											340				$7.00		$2,380
10		Sale											340				7.60		2,584
12		Purchase		440				5.00		2,200
15		Sale											200				8.00		1,600
18		Purchase		300				5.00		1,500
22		Sale											440				7.60		3,344
25		Purchase		500				4.60		2,300
30		Sale											200				7.60		1,520
Totals				2,190						$10,152			1,520						$11,428

Assuming that the periodic inventory method is used, calculate the inventory cost at May 31 under FIFO.

Ending inventory

$

Assuming that the periodic inventory method is used, calculate the inventory cost at May 31 under weighted average. (Round weighted average unit cost to 2 decimal places, e.g. 52.75 and final answer to 0 decimal places, e.g. 5,275.)

Ending inventory

$

Which method will yield the higher current ratio or gross profit?

Weighted AverageFIFO will yield the highest ending inventory
Weighted AverageFIFO gives a higher gross profit.