E6.7 (LO 2), AP Jeters Company uses a periodic inventory system and reports the following for the month of June. Total Cost Instructions Date June 1 Explanation Inventory Units 120 Unit Cost $5 $ 600 12 Purchase 370 6 2,220 23 30 Purchase Inventory 200 7 1,400 230 a. Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost. (Round weighted-average unit cost to three decimal places.) b. Which costing method gives the highest ending inventory? The highest cost of goods sold? Why? c. How do the average-cost values for ending inventory and cost of goods sold relate to ending inventory and cost of goods sold for FIFO and LIFO? d. Explain why the unit cost is not $6 per the average-cost method. Compute inventory under FIFO, LIFO, and average-cost.