Current Attempt in Progress Ivanhoe Company uses the penodic inventory method and had the following inventory Information available Units Unit Cost Total Cost 1/1 Beginning Inventory 108 58 $864 1/20 Purcha 432 $9 3.888 7/25 Purchase 216 $10 2.160 10/20 Purchase 324 $11 3564 1,080 $10476 A physical count of inventory on December 31 revealed that there were 520 units on hand Answer the following independent questions. Round avenge per unit cost to 2 decimal places a 15.25 and other answers to Odecimal places 15253 1 Assume that the company uses the FIFO method. The value of the ending inventory at December 31s 2 Assume that the company uses the Average-Cost method. The value of the ending inventory on December 31 is S EX Assume that the company uses the LIFO method. The value of the ending inventory on December 31 $ (40 Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the UFO method Would income have been greater or less? 5