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Presented below is information related to Blowfish radios for the Vaughn Company for the month of July. Units Sold Selling Price Total Total $ 630

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Presented below is information related to Blowfish radios for the Vaughn Company for the month of July. Units Sold Selling Price Total Total $ 630 5,160 450 $6.90 7.20 $3,105 3,240 450 Date Transaction Units In Unit Cost July 1 Balance 150 $4.20 6 Purchase 1,200 4.30 7 Sale 10 Sale 12 Purchase 600 15 Sale 18 Purchase 450 4.70 22 Sale 25 Purchase 750 4.68 30 Sale Totals 2,760 300 7.30 2,190 2,115 600 7.30 4,380 3,510 7.40 300 2,100 2,220 $15,135 3,150 $14,175 Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost $ 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 decimal places, eg 6,578.) (1) FIFO. (2) LIFO. (3) Weighted average. FIFO LIFO (3) Weighted-Average Ending Inventory at July 31 $ 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. Which of the methods used above will yield the lowest figure for ending inventory for the balance sheet? method will yield the lowest ending inventory

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