Help on Part 6

Pronghorn Company Inc had a beginning inventory of 108 units of Product RST at a cost of $5 per unit. During the year, purchases were: Feb. 20 May 5 648 units at $6 540 units at $7 Aug. 12 432 units at $8 Dec. 8 216 units at $9 Pronghorn Company uses a periodic inventory system. Sales totaled 1,620 units. Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (For calculation purposes, round average cost to 2 decimal places, e.g. 5.25. Round answers to decimal places, eg. 125.) FIFO LIFO AVERAGE-COST The ending inventory 2,808 $ 1,836 2.268 The cost of goods sold 10,800 $ 11.772 11,340 Attempts: 1 of 2 used (c) Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? results in the lowest inventory amount for the balance sheet. results in the lowest cost of goods sold for the income statement