The following information is for the inventory of mini-kettles at Concord 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		850				4.20		3,570
7		Sale											320				$7.20		$2,304
10		Sale											320				7.40		2,368
12		Purchase		420				5.00		2,100
15		Sale											240				8.00		1,920
18		Purchase		320				4.80		1,536
22		Sale											420				7.80		3,276
25		Purchase		500				4.40		2,200
30		Sale											240				7.60		1,824
Totals				2,230						$9,994			1,540						$11,692

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

B. 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.)

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

______ will yield the highest ending inventory

______ gives a higher gross profit.