Exercise 8-11 Waterway Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 4 8 13 750 @ $5.00 1,875 @ 5.07 1,000 @ 5.36 1,500 @ 5.56 April 3 9 625 @ $11.00 1,750 11.00 21 29 875 @ 5.66 625 @ 5.86 6,625 11 750 @ 12.00 23 1,500 @ 12.00 27 1,125 @ 13.00 5,750 Assuming that periodic inventory records are kept in units only, calculate the average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit per unit Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO and average-cost. (Round answer to 0 decimal places, e.g. 2,760.) LIFO Average-cost Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. (Round answer to 0 decimal places, e.g. 2,760.) Inventory (1) FIFO (2) LIFO Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. (Round answer to 0 decimal places, e.g. 2,760.) Cost of goods sold In an inflationary period, which inventory method-FIFO, LIFO, average-cost-will show the highest net income? inventory method will show the highest net income. Click if you would like to Show Work for this question: Open Show Work