Jasper & Williams made purchases of a particular product in the current year as follows: a Jan. 1 Beginning inventory Mar. 7 Purchased July 28 Purchased Oct. 3 Purchased Totals b FIFO Weighted average cost 120 units 280 units 560 units 60 units 1,020 units Required: 1. Ending inventory consists of 173 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 2. Which method provides the lower profit? @$2.10 @ $2.20 @ $2.30 @$2.45 252 616 Cost of Goods Sold 1,288 147 $ 2,303

Jasper \& Williams made purchases of a particular product in the current year as follows: Required: 1. Ending inventory consists of 173 units. Assuming a periodic system, determine the costs to be assigned to cost of goods sold and ending inventory under: (Round your intermediate calculotions and final onswers to 2 decimal places.) 2. Which method provides the lower profit