2. Inventory information for Part #560 of MotorSnap Corp. discloses the following information for the month of June Units Cost Selling Price June 1 Balance June 10 Sold une 11 Purchased June 15 Sold June 20 Purchased June 27 Sold 10 300 200 800 24 12 25 13 300 27 Required (a) - Assuming that the periodic inventory method is used, compute the cost of goods sold and (b) - Assuming that the perpetual inventory method is used and costs are computed at the time of (c) - Assuming that the perpetual inventory method is used and costs are computed at the time of (d) - Why is it stated that LIFO usually produces a lower gross profit than FIFO? ending inventory under [1] LIFO and [2] FIFO each withdrawal, what is the value of ending inventory at LIFO? each withdrawal, what is the gross profit if the inventory is valued at FIFO