Presented below is information related to Blowfish radios for the Coronado Company for the month of July. Units Sold Selling Price Total Date Unit Cost $3.80 3.90 Units In 120 960 Total $ 456 3,744 July 1 6 Transaction Balance Purchase Sale Sale Purchase 360 7 $7.00 7.30 $ 2,520 2,628 360 10 12 480 4.20 2,016 7.40 15 240 1,776 Sale 18 Purchase 360 4.30 1,548 480 7.40 3,552 22 25 30 Sale Purchase Sale 600 4.28 2,568 7.50 240 1,680 1,800 $12.276 Totals 2,520 $10.332 (a 1) Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted-average cost $ (a) Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. 1.FIFO. 2.LIFO. 3.Weighted average. (b) Answer the following questions. 1.Which of the methods used above will yield the lowest figure for gross profit for the income statement? Explain why. 2.Which of the methods used above will yield the lowest figure for ending inventory for the balance sheet? Explain why