300 Exercise 8-13 Presented below is information related to Blowfish radios for the Hootie Company for the month of July. Date Transaction Units In Unit Cost Total Units Sold Selling Price Total July 1 Balance 100 $4.10 $ 410 6 Purchase 800 4.20 3,360 Sale $7 $ 2,100 10 Sale 300 7.3 2,190 12 Purchase 400 4.50 1,800 15 Sale 200 7.4 1,480 18 Purchase 300 4.60 1,380 22 Sale 400 7.4 2,960 25 Purchase 500 4.58 2,290 200 Sale 7.5 30 1,500 Totals 2,100 $9,240 1,400 $10,230 Your answer is correct. Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) 4.4 Weighted average cost Your answer is partially correct. Try again. Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to 0 decima (1) FIFO. (2) LIFO. (3) Weighted-average (1) FIFO (2) LIFO (3) Weighted-Average 3080 Ending Inventory at July 31 LINK TO TEXT Your answer is correct. Which of the methods used above will yield the lowest figure for gross profit for the income statement? LIFO method will yield the lowest gross profit. LINK TO TEXT Your answer is correct. Which of the methods used above will yield the lowest figure for gross profit for the income statement? LIFO method will yield the lowest gross profit. LINK TO TEXT Your answer is correct. Which of the methods used above will yield the lowest figure for ending inventory for the balance sheet? LIFO method will yield the lowest ending inventory