Paddington Gifts 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 150 units @$5.10 - $ 410 units 1,100 units @$4.10 765 $4.70 1,927 4,510 710 units 2,370 units $3.50 2,485 $ 9,687 Required: 1. The business uses a periodic inventory system. Ending inventory consists of 130 units. Calculate the costs to be assigned to the ending inventory and to goods sold under: (Round intermediate calculations and final answers to 2 decimal places for "Weighted average cost") Ending Inventory Cost of Goods Sold a. FIFO $ 455 $ 9,232 b. Weighted average cost $ 533.00 $ 9,307.00 2. Which method provides the lower profit? O Weighted-average cost FIFO