Problem 6-03A a, b1-b2, c (Video) Vaughn Company had a beginning inventory on January 1 of 200 units of Product 4-18-15 att a cost of $20 per unit. During the year, the following purchases were made. 430 units $22 300 units $26 at at Mar. 15 Sept. 4 220 units 100 units $24 $29 July 20 at at Dec. 2 1,030 units were sold. Vaughn Company uses a periodic inventory system A. Your answer is correct X Your answer is incorrect. Try again. Determine the cost of goods available for sale. Calculate average cost per unit. (Round answer to 3 decimal places, e.g. 1.250.) The cost of goods available for sale 29440 Average cost per unit 23.55 X Your answer is incorrect. Try again. C. Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). FIFO AVERAGE-COST LIFO The ending inventory The cost of goods sold D. Your answer is partially correct. Try again Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement? (1) FIFO results in the highest inventory amount (2) LIFO produces the highest cost of goods sold, $