Paddington Gifts made purchases of a particular product in the current year as follows: Jan. 1 Mar 7 July 28 Oct. Beginning inventory Purchased Purchased Purchased 330 units 590 units 1,000 units 810 units 2,730 units @ $6.90 @ $6.50 @ $5.90 @ $5.30 $ 2,277 3,835 5,900 4,293 $ 16,305 39 Totals Required: 1. The business uses a periodic inventory system. Ending inventory consists of 120 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 Cost of Goods Inventory Sold 53915465 a FIFO b. Weighted average cost 2. Which method provides the lower profit? Weighted average cost FIFO