Question 18 Presented below is information related to Blowfish radios for the Nash Company for the month of July. Date Transaction Units In Unit Cost Total Units Sold Selling Price Total July 1 Balance 120 $4.10 $ 492 6 Purchase 960 4.20 4,032 7 Sale 360 $6.80 $2,448 10 Sale 7.10 2,556 12 Purchase 4.50 2,160 15 Sale 7.20 1,728 18 Purchase 360 4.60 1,656 22 Sale 480 7.20 3,456 Purchase 600 4.58 2,748 30 Sale 240 7.30 1,752 Totals 2,520 $11,088 1,680 $11,940 360 $&o 240 Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted average cost $ Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to o decimal places, e.g. 6,578.) (1) FIFO. (2) LIFO. (3) Weighted average. (1) (3) Fito STFO (2) LIFO LIFO Weighted Average Ending Inventory at July 31 s LINK TO TEXT Which of the methods used above will yield the lowest figure for gross profit for the income statement? C m ethod will yield the lowest gross profit. LINK TO TEXT Which of the methods used above will yield the lowest figure for ending inventory for the balance sheet? method will yield the lowest ending inventory