6-03A Metlock, Inc. had a beginning inventory of 110 units of Product RST at a cost of $7 per unit. During the year, purchases were: Feb. 20 660 May 5 575 units at units at $8 $9 Aug. 12 Dec. 8 425 110 units at units at $10 $11 Metlock uses a periodic inventory system. Sales totaled 1,520 units. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.) Average Cost Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 150.) AVERAGE-COST FIFO LIFO The ending inventory $ The cost of goods sold $ Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? results in the lowest inventory amount for the balance sheet. results in the lowest cost of goods sold for the income statement. Click if you would like to Show Work for this question: Open Show Work