Use the following to answer questions 7-17 During September, Kc Company sells 730 mountain bikes for $1,000 each. The company has the following inventory purchase transactions: Date Transaction # of Units Unit cost Total Cost 1-Sep Beginning Inventory 50 $710 $35,500 7 Sep Purchase 425 $715 303,875 19-Sep Purchase 275 $723 198,825 750 $538,200 7. $. What were company's sales for the period? For questions 8 - 10 assume the company uses First in, First out (FIFO) inventory valuation, 8. S Calculate ending inventory (FIFO) 9. $ Calculate cost of goods sold (FIFO) 10. S Calculate gross profit (FIFO) For questions 11 - 13 assume the company uses Last-in, First-out (LIFO) inventory valuation 11. $ Calculate ending inventory (LIFO) Calculate cost of goods sold (LIFO) 12. S 13. $ Calculate gross profit (LIFO) For questions 14 - 16 assume the company uses Weighted Average cost inventory valuation 14. $ Calculate ending inventory (WA) 15. S 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, UFO or WA)