The following information is for the inventory of mini-kettles at Sheffield Company Limited for the month of May: Date Transaction Units In Unit Cost Total Units Sold Unit Price Total May 1 Balance 120 $4.40 $528 6 Purchase 800 4.20 3,360 Sale 330 $7.00 $2,310 10 Sale 330 7:40 2.442 12 Purchase 450 4.80 2.160 15 Sale 230 2.60 1.748 18 Purchase 330 5.00 1.650 22 Sale 450 8.00 3.600 25 Purchase 550 4,60 2530 230 160 1748 30 Sale Totals 2.250 2.250 $10,228 1.570 $11,848 Part 1 Assuming that the periodic inventory method is used, calculate the inventory cost at May 31 under FIFO. $ Ending inventory e Textbook and Media Attempts: 0 of 3 used Submit Ans Save for later Part 2 Assuming that the periodic inventory method is used, calculate the inventory cost at May 31 under weighted average. (Round weighted average unit cost to 2 decimal places, eg. 52.75 and final answer to decimal places, eg. 5,275.) Ending inventory eTextbook and Media Attempts: 0 of 3 used Summit. Are Save for Later Part 3 Which method will yield the higher current ratio or gross profit? will yield the highest ending inventory gives a higher gross profit e Textbook and Media ho Save for Later Attempts: 0 of 3 used Submit