Whe the falcowing ta ketwer questians 7=1 ? twhthase transaction for terteditel 1. 5 What were ontquaty's sales for the peried? Dhaptet 6 - (1) 5 2. 4 20. 1 Culculste gow prote trurop 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 (LLFO) 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) Whe the falcowing ta ketwer questians 7=1 ? twhthase transaction for terteditel 1. 5 What were ontquaty's sales for the peried? Dhaptet 6 - (1) 5 2. 4 20. 1 Culculste gow prote trurop 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 (LLFO) 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)