e: 09:49 PM/Remaining: 113 min. Question 1 Hansen Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 100 $300 2,000 1/20 Purchase 7/25 Purchase 10/20 Purchase 100 $5 1,800 $4,600 1,000 A physical count of inventory on December 31 revealed that there were 380 units on hand. Answer the following independent questions 1. Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is 2. Assume that the company uses the average cost method. The value of the ending inventory on December 31 is 3. Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is 4. (a) Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the 4. Would income have been greater or less? Click if you would like to Show Work for this question: Open Show Work LIFO method n 4.24.5.1