nabled: Test # 1 BACC 200 W21 Savod During 2020, Harmony Co. sold $514,000 of merchandise at marked retail prices. At the end of 2020, the following information was available from its records: Beginning inventory Net purchases At Cost At Metal $121,600 $250,800 225,240 387,600 Use the retail method to estimate Harmony's 2020 ending inventory at cost (Round your intermediate and final answers to 2 decimal places.) Jasper & Williams made purchases of a particular product in the current year as follows: Jan. 1 Beginning inventory Mar. 7 Purchased July 28 Purchased Oct. 3 Purchased Totals 138 units @ $2.20 270 units @$2.30 540 units @$2.40 78 units @ $2.50 1,010 units $ 286 621 1,296 175 $ 2,378 Required: 1. Ending inventory consists of 167 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.) Ending Inventory Cost of Goods Sold il FIFO b. Weighted average cost 2. Which method provides the lower profit? O FIFO Weighted average cost