Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to decimal places es. 125) FIFO LIFO AVERAGE-COST $ $ The ending inventory The cost of goods sold $ e Textbook and Media List of Accounts 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? v produces the highest inventory amount. 12 produces the highest cost of goods sold Textbook and Media Which cost flow income statement? results in Average-cost results in LIFO e Textbook and Media List of Determine (1) the ending inventory and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to decimal places es. 125) FIFO LIFO AVERAGE-COST $ $ The ending inventory The cost of goods sold $ e Textbook and Media List of Accounts 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? v produces the highest inventory amount. 12 produces the highest cost of goods sold Textbook and Media Which cost flow income statement? results in Average-cost results in LIFO e Textbook and Media List of