Jasper & Williams made purchases of a particular product in the current year as follows:

Jan.	1	Beginning inventory		110	units		@	$	2.30		=	$	253
Mar.	7	Purchased		260	units		@	$	2.40		=		624
July	28	Purchased		520	units		@	$	2.50		=		1,300
Oct.	3	Purchased		50	units		@	$	2.60		=		130
		Totals		940	units							$	2,307

Required: 1. Ending inventory consists of 161 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.)

2. Which method provides the lower profit? multiple choice

Weighted-average cost

FIFO