Presented below is information related to Blowfish radios for the Sheridan Company for the month of July. Units Sold Selling Price Total Total $ 646 5,304 510 510 $6.90 7.20 $3,519 3,672 2,856 Date Transaction Units In Unit Cost July 1 Balance 170 $3.80 6 Purchase 1,360 3.90 7 Sale 10 Sale 12 Purchase 680 4.20 15 Sale 18 Purchase 4.30 22 Sale 25 Purchase 850 4.28 30 Sale Totals 3,570 340 7.30 2,482 510 2,193 680 7.30 4,964 3,638 7.40 $14,637 340 2,380 2,516 $17,153 Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to 0 decimal places, e.g. 6,578.) (1) FIFO. (2) LIFO. (3) Weighted average. (1) FIFO (2) LIFO (3) Weighted-Average Ending Inventory at July 31 $ e Textbook and Media Assistance Used e Textbook X Your answer is incorrect. Which of the methods used above will yield the lowest figure for gross profit for the income statement? method will yield the lowest gross profit