4 A company had the following inventories during the year. Jan 1: Beginning Inventory 100 units at $ 20 March: Purchase 500 units at $25 April: Purchase 1,000 units at $35 April 30: Sold 800 units at $70 May: Purchase 500 units at $40 June 30: Sold 1,000 units at $70 Perpetual FIFO Total Unit Amount Income Statement Total Purchase Perpetual LIFO Weighted Average Total Unit Amount Unit Amount Total Revenue = Unit Sold x Retail Price Total Cost of Goods Sold Total ProfitTotal Revenue - COGS Balance Sheet Total Inventory at year-end Which Methold yields the highest Profit/ Net Income? Inventory Method: ........................ Total Inventory Method: ....................... HHHH Inventory Method: ....................... Total