Exercise 6-8 Larkspur, Inc. uses the periodic inventory system and had 125 units in beginning inventory at a total cost of $12,500. The company purchased 250 units at a total cost of $40,000. At the end of the year, Larkspur had 80 units in ending inventory. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to o decimal places, e.g. 1,250.) FIFO LIFO Average-cost The cost of the ending inventory The cost of goods sold LINK TO TEXT Which cost flow method would result in the highest net income? LINK TO TEXT Which cost flow method would result in inventories approximating current cost in the balance sheet? LINK TO TEXT Which cost flow method would result in Larkspur paying the least taxes in the first year? Click if you would like to Show Work for this question: Open Show Work