Exercise 8-13 Presented below is information related to Blowfish radios for the Crane Company for the month of July. Units In Unit Cost Units Sold Selling Price Total Date July 1 110 880 $4.40 4.50 Total $ 484 3,960 330 7 10 $6.70 7.00 $ 2,211 2,310 330 440 4.80 2,112 Transaction Balance Purchase Sale Sale Purchase Sale Purchase Sale Purchase Sale Totals 15 220 7.10 1,562 330 4.90 1,617 440 7.10 3,124 N 18 22 25 30 550 4.88 2,684 220 7.20 1,584 2,310 $10,857 1,540 $10,791 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 O 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? method will yield the lowest ending inventory. Click if you would like to Show Work for this question: Open Show Work