Whispering Winds Company uses the periodic inventory method and had the following inventory information able: 1/1 1/20 7/25 10/20 Beginning inventory Purchase Purchase Purchase Units 100 495 100 300 995 Unit Cost 33 $4 so Total Cost $300 1980 600 2/400 55.200 A physical count of inventory on December 31 revealed that there were 380 units on hand. Answer the following independent questions (Raund average cost per unit to 2 decimal places. 5.25 and final answers to decimal places es 2.520) Assume that the company uses the FIFO method. The value of the ending inventory $ at December 31 2 Assume that the company uses the average cost method The value of the ending $ Inventory on December 31 Assume that the company uses the LIFO method. The value of the endir inventory 5 on December 31s Determine the difference in the amount of income that the comany would have 5 reported if it had used the FIFO method instead of the LIFO method. Would income have been greater or loss