Inits first month of operation, Teal Mountain Company purchased 120 units of inventory for $6, then 240 units for $7 and finally 152 units for $8. At the end of the month 224 units remained. The company uses the periodic method Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Phantom profit $ Flint Corporation uses a periodic inventory system and reports the following for the month of June Date Units Unit Cost Total Cost June 1 Explanation Inventory Purchases 92 $4 $368 12 368 6 2.208 23 Purchases 230 8 1.840 30 Inventory 210 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes round average cost to 3 decimal places, eg, 5.275. Round answers to decimal places, es 125) FIFO LIFO Average-Cost The cost of the ending inventory The cost of goods sold