Use the following to answer questions 717 During September, the company sells 950 watches for $250.00 each. The company has the following inventory purchase transactions for September: 7. S 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. S 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) 12. Calculate cost of goods sold (LIFO) 13. S 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)