presented below is information related to radios for the couples company for the month of July. Units unit Units Selling Date Transaction In Cost Total Sold Price Total 1-Jul Balance 100 $4.10 $410.00 6-Jul Purchase 800 4.30 3,440 7-Jul Sale 300 $7.00 $2,100 10-Jul Sale 300 7.30 2,190 12-Jul Purchase 400 4.51 1,804 15-Jul Sale 200 7.40 1,480 18-Jul Purchase 300 4.60 1,380 22-Jul Sale 400 7.40 2,960 25-Jul Purchase 500 4.58 2,290 30-Jul Sale 200 7.50 1,500 Totals 2,100 $9,324 1400 $10,230 instructions 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 goross 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