Lechner Inc. inventory records for a particular development program show the following at August 31, 2020: E (Click the icon to view the inventory records.) Lechner uses the perpetual inventory system. Requirements 1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific unit cost, with two $140 units, three 145 units, and five $150 units still on hand at the end b. Weighted average cost c. First-in, first-out cost 2. Which method would be most relevant to producing the highest net income? Why? ... Requirement 1a. Compute cost of goods sold and ending inventory using the specific unit cost method, with two $140 units, three $145 units, and five $150 units still on hand at the end. (Enter 'O' in fields with a value of zero.) Cost of Goods Sold units @ $140 units @ 145 Ending Inventory 2 units @ $140 3 units @ 145 units @ 150 5 units @ 150 S S Inventory records 980 Aug. 1 Beginning inventory 15 Purchase 26 Purchase 7 units @ $ 140 = $ 10 units @ 145 = 7 units @ 150 = 1,450 1,050 At August 31, ten of these programs are on hand. Print Done