Crispy Noodles began June with 81 units of inventory that cost $66 each. During the month, Crispy made the following purchases: (Click the icon to view the purchases.) The company uses the periodic inventory system, and the physical count at June 30 shows 55 units of inventory on hand. Required 1. Determine the ending inventory and cost of goods sold amounts for the June financial statements under (a) weighted-average cost and (b) FIFO cost. Round average cost per unit to the nearest cent and all other amounts to the nearest dollar. 2. Sales revenue for June totalled $48,000. Compute Crispy's gross margin for June under each method. 3. Which method will result in higher net income for Crispy? Why? -X i i Purchases Jun. 4 117 units at $64 12 85 units at $65 19 171 units at $68 25 38 units at $72 Print Done