Sports Inc. uses the FIFO cost formula in a perpetual inventory system. (Use unrounded numbers in your calculations but round your final answer to the nearest cent) Jun 1 Jun 5 Jun 8 Jun 9 Jun 10 Jun 22 Beginning inventory Purchase Sale Purchase Sale Sale 20 units @ $19.00 per unit 100 units @ $22.00 per unit 70 units 80 units @ 22.31 per unit 25 units 40 units If Sports Inc. was using the average cost formula instead of FIFO, gross profit from the June 8 sale would be Ohigher. the same. Olower. cannot be determined. none of the above