E6-7o- -. Compute inventory and cost o goods sold using periodic FIFO LIFO and average cost (LO 2), AP Jeters Company reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1Inventory 20 S5 S 600 12 Purchase 370 62.220 23 Purchase 200 7 1.400 30 Iventory 230 Instructions (a) Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO. 2) LIFO, and (3) average-cost (Round average unit cost to turee decimal places.) (b) Which costing method gives the highest ending inventory? The highest cost of goods sold? Why? (c) How do the average-cost values for ending inventory and cost of goods sold relate to ending inventory and cost of (d) Explain why the average cost is not S6. goods sold for FIFO and LIFO