Use the following to answer questions 7 - 17 During September, the company sells 925 watches for $269.99 each. The company has the following inventory purchase transactions for September: Date Transaction of Units Unit cost Total Cost 1-Sep Beginning Inventory $159.00 $12,720 4-Sep $163.00 92,910 24-Sep Purchase $164.00 57,400 $163,030 Purchase 80 570 350 1,000 11. $ Calculate ending inventory (LIFO) 12. $ Calculate cost of goods sold (LIFO) 13. $ Calculate gross profit (LIFO) For questions 14 - 16 assume the company uses Weighted Average cost inventory valuation. 14. $ Calculate ending inventory (WA) 15. $ Calculate cost of goods sold (WA) 16. $ Calculate gross profit (WA) 17. Based on the above, which method would show a larger net income number? (FIFO, LIFO or WA)