Question 1: Riva's, Inc.'s inventory records for a particular development program show the following at May 31: May 1 Beginning inventory May 15 purchase May 26 purchase 8 units @ $150 = $1,200 5 units @ $150 = 750 13 units @ $160 = 2,080 At May 31, 10 of these programs are on hand. Requirements 1. Compute cost of goods sold and ending inventory using each of the following methods:// a. Average cost b. FIFO c. LIFO 2. Which method produces the highest cost of goods sold? Which method produces the lowest cost of goods sold? What causes the difference in cost of goods sold