Question 8 Not yet answered Points out of 1.00 Flag question Taurus Restaurant has the following inventory purchase and sales records from the last period. Calculate the ending inventory for the period using different methods and answer the following questions. Item: Potatoes Date Purchase Unit Cost Sales Units 5/1 BI 50 lbs. $1.50 50 lbs. 5/5 100 lbs. $2.00 | 30 lbs. 120 lbs. 5/8 50 lbs. 70 lbs. 5/10 50 lbs. $2.00 50 lbs. 70 lbs. 5/12 50 lbs. 20 lbs. 50 lbs. I $2.50 25 lbs. 35 lbs. 5/17 50 lbs. $2.75 30 lbs. 65 lbs. 5/20 20 lbs. 45 lbs. 5/25 50 lbs. $3.00 95 lbs. 5/30 25 lbs. 70 lbs. 5/15 Which of the above inventory costing methods would give Taurus Restaurant the LOWEST NET INCOME? Select one: a. LIFO b. FIFO C. Actual Cost d. WAC