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Sheridan Company had a beginning inventory of 125 units of Product RST at a cost of $8 per unit. During the year, purchases were: Feb. 20 630 units at $9 580 units at $10 Aug. 12 Dec. 8 440 units at $11 125 units at $12 May 5 Sheridan uses a periodic inventory system. Sales totaled 1.550 units. Determine the cost of goods available for sale. The cost of goods available for sale $ Calculate Average Cost. (Round answer to 3 decimal places, eg. 5.125.) Average Cost $ Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, UFO, and average cost). (Round answers to decimal places, e.y. 150.) FIFO LIFO AVERAGE-COST $ The ending inventory The cost of goods sold $ Which cost flow method results in the lowest inventory amount for the balance sheet? The lowest cost of goods sold for the income statement? results in the lowest inventory amount for the balance sheet. results in the lowest cost of goods sold for the income statement