Coronado Industries had a beginning inventory of 120 units of Product RST at a cost of $7 per unit. During the year, purchases were: Feb. 20 May 5 660 units at 530 units at 58 59 Aug. 12 Dec 8 470 120 units at units at $10 $11 Coronado uses a periodic inventory system. Sales totaled 1.570 units. Determine the cost of goods available for sale. The cost of goods available for sale $ 12210 Calculate Average Cost. (Round answer to 3 decimal places, es. 5.125.) Average Cost $ 6.859 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 decimal places, eg. 150.) FIFO LIFO AVERAGE-COST $ A $ 1440 The ending Inventory The cost of goods sold $ $ $ 10.770 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