Jasper & Williams made purchases of a particular product in the current year as follows: Jan. 1 Beginning inventory Mar. 7 Purchased July 28 Purchased Oct. 3 Purchased 120 units @ $2.10 265 units @ $2.20 530 units @ $2.30 60 units @ $2.45 975 units $ 252 583 1,219 147 $ 2, 201 Totals Required: 1. Ending inventory consists of 164 units. Assuming a periodic system, determine the costs to be assigned to cost of goods sold and ending inventory under: (Round your intermediate calculations and final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a. FIFO b. Weighted average cost 2. Which method provides the lower profit? O FIFO Weighted average cost