32:17 Current Attempt In Progress Ayayal Company uses the periodic inventory method and had the following Inventory Information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 80 $4 $320 1/20 Purchase 400 $5 2,000 7/25 Purchase 80 $7 560 10/20 Purchase 240 $8 1.920 $4,800 800 A physical count of Inventory on December 31 revealed that there were 280 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, es 5.25 and final answers to decimal places, 08 2,520.) 1 Assume that the company uses the FIFO method. The value of the ending Inventory at December 31 is $ 2 Assume that the company uses the average cost method. The value of the ending inventory on December 31 $ 3 Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is $ Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method $ 4. Would income have been greater or less? Save for Later Attempts: 0 of 1 used Submit A