P6.3A ( LO2), AP Vista Company Inc. had a beginning inventory of 100 units of Product RST at a cost of $8 per unit. During the year, purchases were: L ? Vista Company uses a periodic inventory system. Sales totaled 1,500 units. Instructions a. Determine the cost of goods available for sale. b. Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round the weighted-average unit cost to three decimal places.) b. Cost of goods sold: \begin{tabular}{ll} FIFO & $14,500 \\ LIFO & $15,100 \\ Average & $14,824 \end{tabular} c. Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? Compute ending inventory, prepare income statements, and answer questions using FIFO and LIFO