4. Hefty Company wants to know the effect of different inventory methods on financial statements. Given below is information about beginning inventory and purchases for the current year 500 units at $3.00 1,100 units at $3.20 400 units at $4.00 1,600 units at $4.40 January 2 April 7 June 30 December 7 Beginning Inventory Purchased Purchased Purchased es during the year were 2,700 units at $5.00. If Hefty used the periodic LuFo method, cost of goods sold would be: a. $2,780 b. $3,960 c. $9,700 d. $10,880 5. Hefty Company wants to know the effect of different inventory methods on financial statements. Given below is information about beginning inventory and purchases for the current year. January 2 April 7 June 30 December 7 Beginning Inventory Purchased Purchased Purchased 500 units at $3.00 1,100 units at $3.20 400 units at $4.00 1,600 units at $4.40 Sales during the year were 2,700 units at s5.o0. If Hefty used the weighted-average method, gross profit would be: a. $3,255 b. $3,415 c. $10,245 d. $13,500