Discover the top hapter 6 Homework Question 6 of 14 Units Unit Cost Total Cost 1/1 Beginning Inventory 105 $3 $315 1/20 Purchase 500 $4 2,000 7/25 Purchase 100 $5 500 10/20 Purchase 320 $6 1.920 1.025 54.735 A physical count of inventory on December 31 revealed that there were 375 units on hand Answer the following independent questions (Round average cost per unit to 2 decimal places eg. 5.25 and final or places, es 2,520) 1 5 2. 5 3 Assume that the company uses the FIFO method The value of the ending inventory at December 31 Assume that the company uses the average-cost method. The value of the ending inventory on December 31 is Assume that the company uses the LIFO method. The value of the ending inventory on December 31 Determine the difference in the amount of income that the company would have reported it it had used the FIFO method instead of the LIFO method Would income have been greater or less? $ 4.(a) $ 4. esc C G Search or type URL N $ 4 % 5 2 3 6 7 8 9 Q W E R T Y Y U m S D F F G H J K