Page Use the following to answer questions 7-17 During September, the company sells 925 watches for $269.99 each. The company has the following inventory purchase transactions for September: Date Transaction # of Units Unit cost Total Cost 1-Sep Beginning Inventory 80 $159.00 $12,720 4-Sep Purchase 570 $163.00 92,910 24-Sep Purchase 350 $164.00 57,400 1,000 $163,030 7. $ What were company's sales for the period? For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation. 8. $ Calculate ending inventory (FIFO) 9. $ Calculate cost of goods sold (FIFO) 10. $ Calculate gross profit (FIFO) For questions 11 - 13 assume the company uses Last-in, First-out (LIFO) inventory valuation. 11. $ Calculate ending inventory (UFO) 12. $ Calculate cost of goods sold (LIFO) 13. $ Calculate gross profit (LIFO) For questions 14 - 16 assume the company uses Weighted Average cost inventory valuation. 14. S Calculate ending inventory (WA) 15. S Calculate cost of goods sold (WA) 16. S Calculate gross profit (WA) 17. Based on the above, which method would show a larger net income number? (FIFO, LIFO or WA)