rost ($) date description of units may begining inventory yo 6 July | Purchases 3. lo sep I Purchases 25 US Dec purchases 35 12 * The number of remaining units Cunsold) at The end of The year was 50 unitso Required: a) Calculate the cost of ending inventory and cost of goods sold using: 1. FIFO method 2. LIFO method 3. Weighted average method. b) What is the method that gives the highest income (profits) and why