1. Calculate the value of a periodic inventory using the four cost methods: Assume the beginning inventory as of January 1 consisted of 450 units that were purchased for $6.00 each. During the month, three new purchases were made. The first purchase consisted of 800 units costing $6.50 each, the second purchase had 650 units costing $7.00 each, and the third purchase had 200 units costing $7.50 each. Units 450-200 Beg. inventory, January 1 First purchase Second purchase Third purchase 800 to 650 -200 2,100 Cost per Unit @ $6.00 @ $6.50 @ $7.00 - @ $7.50 At the end of the month, ending inventory shows 550 units. Compute the cost of goods sold and the ending inventory for the company using each of the following methods. Also determine the gross margin if the total sales revenue is $55,000. a. Specific identification: Of the units sold, 200 were from the beginn inventory, 700 from the first purchase, 200 from the second purchase, and 50 f the third purchase. b. First-in, first-out (FIFO) c. Last-in, first-out (LIFO) d. Weighted - average (round the unit price)