Genesis Corporation began business in 2014. Its primary activity is the sale of appliances. It is uncertin as to which inventory method to use:
FIFO, LIFO, or weighted average Given the information below, which method would you suggest? State yuor reason for suggesting this method.
Purchases:
February 200 units: $300 = $60,000
June 300 units: $350 =$105,000
August 150 units: $360 =$54,000
December 180 units: $380 =$68,400
Genesis sold 600 units in 2014 and anticipates increased sales (in units and price) and increased unit costs.