LLIULUI LIIA Liisi ICI out of ABC Photo sell disposable auto-focus cameras. The business uses a PERIODIC INVENTORY SYSTEM. The following details for inventory are for 2018: Date Description # of units Cost per Unit January 1 Beginning inventory 55 $25.00 March 10 Purchase 100 $20.00 September 22 Purchase 85 $15.00 October 28 Purchase 60 $12.50 DURING THE YEAR, 230 UNITS WERE SOLD. 1 i B I - EE C. The cost of inventory is decreasing during the year (from $25.00 per unit down to $12.50 per unit). Based upon that, which method of inventory costing (FIFO, LIFO, or MW/A will result in the lowest net income for the year (no calculations should be necessary) - (2 marks) D. Calculate the cost of ending inventory for the following inventory costing methods (6 marks) FOR FIFO METHOD - answer in the space below