ohn Adams Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 600$6.00 April 3 500 @ $10.00 1,5006.08 9 1,400 10.00 11 600 e 11.00 23 1.200 11.00 27 900 12.00 8 800 6.40 1,200 6.50 700 6.60 500 @ 6.79 13 21 29 4,600 a 5,300 Your answer is correct. Blauming that eriodic inventory records are kept in units onlaulate the average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit 6.35 per unit Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. (Round answer to O decimal places, e.g. 2,760.) LIFO FIFO Inventory Your answer is incorrect. Try again. Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. (Round answer to o decimal places, e.g. 2,760 Cost of goods sold Your answer is incorrect. Try again. In an inflationary period, which inventory method-FIFO, LIFO, average-cost-will show the highest net income? inventory method will show the highest net income