Kingbird, Inc. Inc. had a beginning inventory of 105 units of Product RST at a cost of $7 per unit. During the year, purchases were: Feb. 20 600 units at $8 Aug. 12 390 units at $10 May 5 490 units at $9 Dec. 8 100 units at $11 Kingbird, Inc. uses a periodic inventory system. Sales totaled 1,455 units. (a) Your answer has been saved. See score details after the due date. Determine the cost of goods available for sale. The cost of goods available for sale $ 14210 Attempts: 1 of 1 usec Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 2.237.) Average cost per unit $ (b2) 8.869 Attempts: 1 of 1 used Your answer has been saved. See score details after the due date. 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 under the FIFO and LIFO methods. (Round per unit cost to 3 decimal places, eg. 15.647 and final answers to O decimal places, eg. 5,125.) FIFO LIFO AVERAGE-COST The ending inventory 2,400 1,775 2,039.87 The cost of goods sold 12,545 $ 13,170 12,905.13 Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? (1) (2) Save for Later results in the lowest inventory amount, $ results in the lowest cost of goods sold, $ Attempts: 0 of 1 used Submit