Pronghorn Distribution markets CDs of the performing artist Fishe. At the beginning of October, Pronghorn had in beginning inventory 3,500 of Fishes CDs with a unit cost of $7. During October, Pronghorn made the following purchases of Fishes CDs.

Oct. 3		4,375	@	$8		Oct. 19		5,250	@	$10
Oct. 9		6,125	@	$9		Oct. 25		7,000	@	$11

During October, 19,075 units were sold. Pronghorn uses a periodic inventory system.

Cost of goods available for sale- 244,125

Weighted-average cost per units -9.3

		FIFO		LIFO		AVERAGE-COST
The ending inventory		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places
The cost of goods sold		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places

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)		select a method FIFOLIFOAverage-cost produces the highest inventory amount, $enter a dollar amount .
(2)		select a method FIFOLIFOAverage-cost produces the highest cost of goods sold, $enter a dollar amount .