Suppose that Old Navy uses the periodic inventory system and had the following inventory information available: 1/1 1/20 7/25 10/20 1. 2. Beginning Inventory 3. Purchase Purchase Purchase Units Unit Cost 126 630 126 378 1,260 $4 $5 $7 $8 Total Cost $504 3,150 882 A physical count of inventory on December 31 revealed that there were 441 units on hand. Answer the following independent questions. 3,024 $7,560 Assume that the company uses the FIFO method. The cost of the ending inventory at December 31 is Assume that the company uses the average-cost method. The cost of the ending inventory on December 31 is Assume that the company uses the LIFO method. The cost of the ending inventory on December 31 is $ $ $

A physical count of inventory on December 31 revealed that there were 441 units on hand. Answer the following independent question. 1. Assume that the company uses the FIFO method. The cost of the ending inventory at December 31 is 2. Assume that the companyuses the average-cost method. The cost of the ending inventory on December 31 is 3. Assume that the company uses the LFO method. The cost of the ending inventory on December 31 is A phtwedcal court of inventory on December 31 revealed that there were 441 units cohand Ariswer the following independent questians. 1. Asume that the company uses the FIFO method. The cost of the ending inventory at December 31 is 2. Asume that the company uses the averace cont method. The cost of the ending inventory on December 31/s 3. Assune that the corepary ises the UFO method. The cost of the endine imwentory on December 31 is 4 (s) Determine the difference in the mnount of income that the campary would hawe reportedif it had used the FIFO method instead of the LFO method A. (th Wuyd incoime habe been ereater or leus