Trotter Industries Ltd. imports excellent jams, selling them to grocery stores nationwide. But the cost of getting good quality fruit for the jams keeps rising, as does the labour cost for productive employees, in the countries where the jams are made. Here is inventory cost data from the past year (Trotters fiscal year ends Oct. 31.): Nov. 1, 2020 opening inventory 2000 jars @ $4.80 per jar Nov. 13, 2020 purchase 10,000 jars @ $5.90 per jar Feb. 18, 2021 purchase 6,500 jars @ $6.65 per jar May 11, 2021 purchase 7.200 jars @ $7.20 per jar July 27, 2021 purchase 8,000 jars @ $8.50 per jar Oct. 13, 2021 purchase 4,600 jars @ $ 9.10 per jar Throughout this fiscal year, Trotter was selling the jam at $12.00 per jar. At Oct. 31, an inventory count revealed 2,400 jars remaining in Trotters storage facility.

Required: Find the COGS and Ending Inventory values for Trotter using

FIFO

LIFO

Weighted Average

Assuming Trotter is a Canadian corporation, which method of inventory valuation would the company use in order to be able to show the LOWEST possible net income for the past fiscal year?