Exercise 8-13 Presented below is information related to Blowfish radios for the Sunland Company for the month of July. Units Sold Selling Price Total Date July 1 6 Units In 130 1,040 Unit Cost $3.90 4.00 Total $ 507 4,160 7 10 12 390 390 $6.70 7.00 $ 2,613 2,730 Transaction Balance Purchase Sale Sale Purchase Sale Purchase Sale Purchase Sale 520 4.30 2,236 260 7.10 1,846 390 4.40 1.716 15 18 22 25 30 520 7.10 3,692 650 4.38 2,847 260 7.20 1872 $12,753 Totals 2.730 $11,466 1,820 Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to 0 decimal places, e.g. 6,578.) (1) FIFO. (2) LIFO. (3) Weighted average. (1) FIFO (2) LIFO (3) Weighted Average Ending Inventory at July 31 Which of the methods used above will yield the lowest figure for gross profit for the income statement? method will yield the lowest gross profit. Which of the methods used above will yield the lowest figure for ending inventory for the balance sheet? V method will yield the lowest ending inventory. m Weighted-average FIFO LIFO LITIEVUJ used