Holliday Company's inventory records show the following data:

Units Unit Cost

Inventory, January 1 1,000 10

Purchases: June 18 1,000 12

Purchases: Oct., 25 1,000 15

Sale, Dec., 8 3,000 Units @ 20

If Holliday uses Periodic inventory method, moving from Weighted Average to FIFO will:

a.

increase ending inventory and decrease cost of goods sold.

b.

increase ending inventory and increase cost of goods sold.

c.

decrease ending inventory and decrease cost of goods sold.

d.

None