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Wattan Company reports beginning inventory of 27 units at $62 each. Every week for four weeks it purchases an additional 27 units at respective costs of $63, $64. $67, and $72 per unit for weeks 1 through 4. Compute the cost of goods available for sale and the units available for sale for this four-week period. Assume that no sales occur during those four weeks. Units Units cost Cost of Goods Available Activity Beginning Inventory 1st week purchase 2nd week purchase 3rd week purchase 4th week purchase Units available for sale Cost of goods available for sale 0 $ 0 Flora's Gifts reported the following current-month data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 67 units-53 units from the January 6 purchase and 14 units from the January 25 purchase. Jan 1 Beginning inventory Jan. 6 Purchase Jan. 17 Purchase Jan. 25 Purchase Totals 155 units @ $3.50 - $ 542.50 324 units @ $3.20 1,036.80 560 units @ $2.70 1,512.00 26 units @ $2.40 62.40 1,065 units $3,153.70 (a-d) Determine the cost assigned to ending inventory and to cost of goods sold for the following. (Do not round intermediate calculations and round your answers to nearest whole dollar.) Ending Inventory Cost of Goods Sold (a) Specific identification (b) Weighted average (c) FIFO (d) LIFO (e) Which method yields the lowest net income? O LIFO O Weighted average O FIFO O Specific identification

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