Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. (Round answer to 0 decimal places, e.g. 2,760.) Cost of goods sold In an inflationary period, which inventory method-FIFO, LIFO, average-cost-will show the highest net income? inventory method will show the highest net income. Click if you would like to Show Work for this question: Open Show Work Current Attempt in Progress Metlock Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 840 @ $6.00 April 3 700 a $10.00 4. 2,100 6.08 9 1,960 a 10.00 8 1,120 6.40 11 840 a 11.00 13 1,680 @ 6.50 23 1,680 a 11.00 21 980 @ 6.60 27 1,260 12.00 29 700 @ 6.79 6,440 7,420