10.CAISCO Sales Inc. had a beginning inventory of May comprising of 700 units that had a cost of $80/unit. A summary of purchases and sales during the month of May are as follows:

DateUnit CostUnits PurchasedUnits soldMay 2400May 6$831,200May 10900May 19$85800May 23500May 30$88300

If CAISCO Sales Inc. uses a periodic inventory system, which of the following statements is true?

None of the other alternatives are correct

CAISCO Sales Inc.'s ending inventory consists of 1,200 units only if FIFO cost flow method IS assumed.

CAISCO Sales Inc. must use the FIFO cost flow assumption since a periodic inventory system is used.

CAISCO Sales Inc. must use the weighted average cost flow assumption since a perpetual inventory system is used.

CAISCO Sales Inc.'s ending inventory will be higher if FIFO is used than if LIFO is used.