Compute inventory and cost of goods sold using periodic FIFO, LIFO, and average-cost. E6.8 (LO 2), AP Jeters Company uses a periodic inventory system and reports the following for the month of June. Instructions Date June 1 12 23 Explanation Inventory Purchase Purchase Units Da 120 Unit Cost Total Cost $5 $ 600 370 6 200 7 2,220 1,400 30 Inventory 230 a. Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost. (Round average unit cost to three decimal places.) b. Which costing method gives the highest ending inventory? The highest cost of goods sold? Why? c. How do the average-cost values for ending inventory and cost of goods sold relate to ending inven- tory and cost of goods sold for FIFO and LIFO? d. Explain why the average cost is not $6