Flanagan Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory 200 $10.91 $2,182.00 June 12 Purchases 300 11.91 3,573.00 June 23 Purchases 500 12.91 6,455.00 June 30 Inventory 120 Compute the cost of the ending inventory and the cost of goods sold using the average-cost method. (Round answers to 2 decimal places, e.g. 10.50.) Ending Inventory $ _____ Cost of goods sold $ _____ Will the results in (a) be higher or lower than the results under (1) FIFO and (2) LIFO? (1) Average-cost: Ending inventory will be (lower / higher) than FIFO Average-cost: Cost of goods sold will be (lower / higher) than FIFO (2) Average-cost: Ending inventory will be (lower / higher) than LIFO Average-cost: Cost of goods sold will be (lower / higher) than LIFO