You are given the following information for Amelia Company. All transactions are settled in cash. Amelia uses a perpetual inventory system and the weighted average cost formula. Increased competition has reduced the price of the product. Date Transaction Units Unit Price 25 July 1 5 $10 9 Beginning inventory Purchase Sale Purchase Sale 55 (70) 8 15 10 55 8 20 12 25 Purchase (55) 10 7 What if Amelia had used FIFO instead of weighted average? How would this affect the July 31 ending inventory on the balance sheet compared with weighted average