Question 4 Pronghom Distribution markets CDs of numerous performing artists. At the beginning of March, Pronghorn had in beginning wiventory 2,390 CDs with a unit cost of ss. During March, Pronghorn made the following purchases of CDS 2,110 March March 13 $9 $10 March 21 March 26 5,000 1,970 $11 0312 During March 11.30 units were sold. Pronghorn uses a periodic Inventory system Determine the cost of goods available for sale The cost of goods aviable for sale 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). (For calculation purposes, round average cost to 3 decimal places, eg. 5.273. Round answers to decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory $ The cost of goods sold $ 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) . produces the highest inventory amount (2) . produces the highest cost of goods sold Show Work is REQUIRED for this question Open Show Work