2. Inventory information for Part #560 of Motornar Corp. discloses the following information for the month of June. Cost Selling Price 10 $ $ $ 24 Units 300 200 800 500 500 300 June 1 Balance June 10 Sold June 11 Purchased June 19 Sold June 20 Purchased June 27 Sold 12 25 $ 13 $ $ 27 Required: (a) - Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under [1] LIFO and [2] FIFO. (b) - Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of ending inventory at LIFO? Homework 4 of 6 ...Continues page 3 => (0) - Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO? (d) - Why is it stated that LIFO usually produces a lower gross profit than FIFO