Cullumber Company uses the periodicinventory method and had the following inventory information available: A physical count of inventory on December 31 revealed that there were 400 units on hand. A ghysicat count of inventory an December 3 t revealed that there were soounits on hand Arwwer the following independent questions. Round averuge per unt ceet to 2 decinal phices eg 15.25 and bther arimen to 0 dedimai. ploces ed- 1.525) Assime that the compaiv uses the FIFO method. The value of i ending inveruary at December a1 is Awume that the compariy utes the Avarage Cost methad. The value of the chifing inentory on Decersber 31 in Assume that the compary uses the Lifo metiod. The value of the ending imentory on Decenber 31 is Determine the difference in the amount of income that the company woilid hre regorted it it had used the Fifo method instead af Would income have been greater orless