Octario Company's inventory recocds for its retal division show the following at March 31 : IIH (Cick the ioon to Vew the accounting recoids) A. March 31. 8 of thebe units are ce hand. Read the teovirements Requirement 1. Compute cost ot goods sold and ending inventory, using each of the followiag four imventory methods: Begin by entering the number of units sold and number of units in ending ieventory, Thea cotculate cost of poods sold and ending imventary using ta) specte identicabien then (b) average cost. then (e) FiFO, and finaty (d) LFO (Round the average coit por unit to the pearest cent Round al final ansours to the nearest whole dollar) Requirement 2. Which mothod produces the highed com of aoods sola? Which methed peoduces the lowest cout of goede sold? What causes the diflerenon in cost of goods told? Which method produces twe highest cott of goods sald? Wich meerod produces the lowest cost of goods sold? The diflerence on coot of goods sold under the tho methods idensfied abeve was causod by 5 for its retail division show the following at March 31: anting records.) hand. Data table 1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific identification, with two $165 units and six $175 units still on hand at the end b. Average cost c. FIFO d. LIFO 2. Which method produces the highest cost of goods sold? Which method produces the lowest cost of goods sold? What causes the difference in cost of goods sold