The following information is for the inventory of mini-kettles at Bridgeport Company Limited for the month of May: Unit Price Total Units In 130 830 Unit Cost $4.20 4.20 $7.40 7.40 $2,368 2,368 420 4.60 Date Transaction May 1 Balance 6 Purchase 7 Sale 10 Sale 12 Purchase 15 Sale 18 Purchase 22 Sale 25 Purchase 30 Sale Totals Units Total Sold $546 3,486 320 320 1,932 220 1,550 420 2,392 220 $9,906 1,500 7.60 1,672 310 5.00 7.80 3,276 520 4.60 7.60 1,672 $11,356 2,210 Assuming that the periodic inventory method is used, calculate the inventory cost at May 31 under FIFO. Ending inventory $ 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, e.g. 52.75 and final answer to 0 decimal places, e.g. 5,275.) Ending inventory $L Which method will yield the higher current ratio or gross profit? will yield the highest ending inventory gives a higher gross profit