Which inventory valuation method would yield the lowest cost of goods sold in periods of rising prices? FIFO Weighted-Average O None of the answers Specific identification QUESTION 5 A company had the following purchases during its first year of operations: Sales January March May Purchases 10 units at $40 25 units at $20 12 units at $60 The company uses FIFO method to determine its cost of inventory What is the cost of goods sold in May? What is the total cost of goods purchased during the year? For the toolbar, press ALT F10 (PO) O ALTFF 10 (Maci BIS Paragraph And 10pt 2 1. A lili 04