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Smythe Company Inc. had a beginning inventory of 200 units of Product ERV at Bing a cost of $6 per unit. During the year, purchases were: Smythe Company uses a periodic inventory system. Sales totaled 1, 900 units. Determine the cost of goods available for sale. Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold $14, 500 under the FIFO and LIFO methods. (Round average unit cost to three decimal places.) Which cost flow method results in the lowest inventory amount for the balance sheet? $15, 281 The lowest cost of goods sold for the income statement? The management of Weigel Inc. asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2014 the accounting records show these data. Units purchased consisted of 35,000 units at $4.21 on March 20; 65,000 units at $4.60 on July 24; and 5,000 units at $4.83 on December 12. Income taxes are 30%