Please answer question #8, SHOWING ALL WORK ACCORDINGLY. Thank you!

Pina Colada Company uses the periodic inventory method and had the following inventory information available Units Unit Cost Total Cost 1/1 Beginning Inventory 106 94 $ 424 1/20 Purchase 530 55 2.650 7/25 Purchase 106 57 742 10/20 Purchase 318 $8 2544 1.000 1060 $6,360 A physical count of inventory on December 31 revealed that there were 371 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, eg. 5.25 and final answers too decimal places, 25200) 1. $ 2 Assume that the company uses the FIFO method. The value of the ending inventory at December 31 Assume that the company uses the average cost method. The value of the ending inventory on December 31s Assume that the company uses the UFO method. The value of the ending inventory on December 31 is $ Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method $ 4.(b) Would income have been greater or less