You are given the following information for Sheridan Company for the month ended November 30, 2024: Date Description Units Unit Cost Nov. 1 Beginning inventory 62 $49 9 Purchase 110 46 15 Sale (120) 22 Purchase 155 44 29 Sale (170) 30 Purchase 42 42 Sheridan Company uses a perpetual inventory system. All sales and purchases are on account. (c) If the company changes from weighted average to FIFO and prices continue to fall, would you expect the ending inventory amounts to be higher or lower? If prices continue to fall, the FIFO cost formula will continue to yield ending inventory and company changes from weighted average to FIFO and prices continue to fall, would you expect the cost of goods sold and g inventory amounts to be higher or lower? ontinue to yield ending inventory and higher cost of goods sold than the weighted average cost formula