Inventory records - Mar. 1 Beginning inventory... 6 units @ $ 165 = $ 990 15 Purchase 8 units @ 170 = 1,360 26 Purchase 6 units @ 175 = 1,050 At March 31, eight of these programs are on hand. Print Done Leicester Inc. inventory records for a particular development program show the following at March 31, 2020: (Click the icon to view the inventory records.) Leicester uses the perpetual inventory system. Requirements 1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific unit cost, with two $165 units, three $170 units, and three $175 units still on hand at the end b. Weighted average cost c. First-in, first-out cost 2. Which method would be most relevant to producing the highest net income? Why? Requirement 1a. Compute cost of goods sold and ending inventory using the specific unit cost method, with two $165 units, three $170 units, and three $175 units still on hand at the end Cost of Goods Sold Ending Inventory Junits $165 2 units @ $165 units 170 3 units @ 170 units@1751 3 units @ 175 Requirement 1b. Compute cost of goods sold and ending inventory using the weighted-average cost method. (Round the unit costs to the nearest whole dollar.) Cost of Goods Sold units@ Ending Inventory units @ Requirement 1c. Compute cost of goods sold and ending inventory using the first-in, first-out cost method. (Enter '0' in fields with a value of zero.) Cost of Goods Sold Ending Inventory units @$165 units @ $165 units @170 units@ 170 units @175 units@ 175 Requirement 2. Which method would be most relevant to producing the highest net income? Why? produces the highest net income because the cost of goods sold is the produces the lowest net income because the cost of goods sold is the att The per unit causes the difference in the cost of goods sold with increase in cost of purchases raised the average cost of terms sold with the the lowest cost tem is sold first. More tems at higher cost were sold with the method, and the method