Question 8: EAS Corporation reports the following for the month of June. Date Details Units Unit Cost June 1 Inventory-balance 200 $5 June 12 Purchase 300 $6 June 23 Purchase 500 $7 June 30 Inventory-balance 160 Total Cost $1,000 $1,800 $3,500 Required: (a) Compute the cost of the ending inventory and the cost of goods sold (during the month) under (1) FIFO and (ii) average cost (b) Which costing method gives the higher ending inventory? Why? (c) Which method results in the higher cost of goods sold? Why