NE o Exercise 6.63 (Appendie 6Mr Inventory Costing Methods Periode inventory system The inventory accounting records for Lee Enterprises contained Al0 units at S12 each Feb I Calculate the cost of ending inventory and the cost er poods sold using thr FIFO. LuFo and average cost methods. Line four 2 round all other numbers to the nearest dollar eading inventory and cost of roods sold com CONCEPTUAL CONNECTION Compare the puted under all three met What can you conclude about the effects of costing methods on the balance sheet and the income statement