Saved Jasper & Williams made purchases of a particular product in the current year as follows: 7 Jan. 1 Beginning inventory Mar 2 Purchased July 28 Purchased Oct. 3 Purchased Totals 130 units 285 units 570 units 70 units 1,955 units @$2.20 @ $2.40 @ $2.40 @ $2.50 10 points $ 286 684 1,368 175 $ 2,513 Otat05 Required: 1. Ending inventory consists of 176 units. Assuming a periodic system, determine the costs to be assigned to cost of goods sold and ending inventory under: (Round your Intermedlate calculations and final answers to 2 decimal places.) Ending Inventory Cost of Goods Sold a FIFO b. Weighted average cost 2. Which method provides the lower profit? Weighted average cost FIFO