Ash Company uses the periodic inventory method and had the following inventory information available: Table Q4 Date Transaction Units Unit Cost 1/8/2020 Beginning inventory 100 4.00 16/9/2020 Purchase 400 5.00 20/11/2020 Purchase 200 7.00 25/11/2020 Purchase 300 8.00 A physical count of inventory on December 31 revealed that there were 400 units on hand. (a) (b) Assume that the company uses the FIFO, LIFO and AVCO method. Calculate the value of the ending inventory at December 31 for each methods Estimate 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. Would income have been greater or less? )