Wildhorse Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 1,320 @ $5.80 April 3 1,100 $10.00 3,300 @ 5.90 9 3,080 @ 10.00 8 1,760 @ 6.20 11 1,320 @ 11.00 13 2,640 @ 6.30 23 2,640 @ 11.00 222 21 1,540 @ 6.40 27 1,980 @ 12.00 29 1,100 @ 6.60 10,120 11,660 (b) Assuming that perpetual inventory records are kept in dollars, determine the inventory using (1) FIFO and (2) LIFO. (1) FIFO (2) LIFO Inventory $ $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) Compute cost of goods sold assuming periodic inventory procedures and inventory priced at FIFO. Cost of goods sold $ eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (d) In an inflationary period, which inventory method-FIFO, LIFO, average cost-will show the highest net income? inventory method will show the highest net income