Appleby buys and sells inventory during the month of August as follows: Which of the following statements is true? Closing inventory is $19.50 higher when using the FIFO method instead of the weighted average. Closing inventory is $17.50 higher when using the FIFO method instead of the weighted average. Closing inventory is $19.50 lower when using the FIFO method instead of the weighted average. Closing inventory is $17.50 lower when using the FIFO method instead of the weighted average