Crane Distribution markets CDs of the performing artist Unique. At the beginning of October, Crane had in beginning inventory 2,000 of Uniques CDs with a unit cost of $5. During October, Crane made the following purchases of Uniques CDs.

Oct. 3		2,500	@	$6		Oct. 19		3,000	@	$8
Oct. 9		3,500	@	$7		Oct. 25		4,000	@	$9

During October, 10,900 units were sold. Crane uses a periodic inventory system

Cost per unit Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIF LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 1,250.) $ $ FIFO LIFO AVERAGE-COST The ending inventory The cost of goods sold Which cost flow method results in (1) the highest inventory amount for the balance sheet and (2) the highest cost of goods sold for the income statement? (1) produces the highest inventory amount, $ produces the highest cost of goods sold, $ (2) ALL