Sandhill Company uses the periodic inventory method and had the following inventory information available:

				Units		Unit Cost		Total Cost
1/1		Beginning Inventory		98		$8			$784
1/20		Purchase		392		$9			3,528
7/25		Purchase		196		$10			1,960
10/20		Purchase		294		$11			3,234
				980					$9,506

A physical count of inventory on December 31 revealed that there were 470 units on hand

1.		Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is		$enter a dollar amount rounded to 0 decimal places
2.		Assume that the company uses the Average-Cost method. The value of the ending inventory on December 31 is		$enter a dollar amount rounded to 0 decimal places
3.		Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is		$enter a dollar amount rounded to 0 decimal places
4. (a)		Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method.		$enter a dollar amount rounded to 0 decimal places
4. (b)		Would income have been greater or less?