Units Unit Cast Total Cost 1/1 Beginning Inventory 95 $3 $285 1/20 Purchase 495 $4 1,980 7/25 Purchase 100 $5 500 10/20 Purchase 280 $6 1,680 970 $4,445 A physical count of inventory on December 31 revealed that there were 360 units on hand. Answer the following independent questions. (Round average cost per unit to 2 decimal places, eg. 5.25 and final answers to O decimal places, es 2.520) Assume that the company unes the FIFO method. The value of the ending inventory at December 31s S 2 Assume that the company uses the average cost method. The value of the ending inventory on December 31 is $ 3 Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is S 4(a) Determine the difference in the amount of income that the company would have reported it is had used the FIFO method instead of the LIFO method. $ Would income fave been greater or less? Greater me 45 me +/- 8 4 5 1 2 0