Pronghorn Company uses the periodic inventory method and had the following inventory information available: 1/1 1/20 7/25 Beginning Inventory Purchase Purchase 10/20 Purchase Units 108 540 108 324 1,080 Unit Cost $4 $5 $7. $8 Total Cost $432 2,700 756 2,592 $6,480 A physical count of inventory on December 31 revealed that there were 378 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 2,520.)

Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is

Assume that the company uses the average cost method. The value of the ending inventory on December 31 is

Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is

Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method

Would imcome have been greater or less?

Pronghorn Company uses the periodic inventory method and had the following inventory information available: A physical count of inventory on December 31 revealed that there were 378 units on hand. Answer the following independent questions, (Round average cost per unit to 2 decimal places, e.g. 5.25 and final answers to 0 decimal places, e.g. 2,520.)