Question 7 5 Points In a period of inflation, the Blank 1 cost-flow assumption results in a lower taxable income because the current higher inventory cost are found in cost of goods sold. Blank 1 Add your answer Question 8 5 Points Use the LIFO cost-flow assumption to answer the following situation: Beginning inventory -- 465 units @ $5 Purchase #1 - 375 units @ $6 Purchase #2 -- 295 units @ $6.25 Sale - 720 units . Answer the following: . What is the units and dollar amount of goods available for sale? What is the value of ending inventory? Use the editor to format your answer 5 Points Question 9