Question 1 23 pts Maxell Company uses a periodic inventory system. Consider the following information: Date Description # of units Cost per unit January 1 Beginning inventory 38 $10 June 2 Purchase 180 $12 July 6 Purchase 55 $13 November 5 Sales 165 Calculate the following: 1. Cost of Goods Sold and Ending Inventory using FIFO 2. Cost of Goods Sold and Ending Inventory using LIFO 3. Cost of Goods Sold and Ending Inventory using Weighted Average 4. Which method will result in the lowest NI? why? 5. Why would someone want to use the inventory method that provides the lowest NI? HTML Editore 31 x x B IV A - A - IX E - D V VO 12pt