1. The following information regarding Harvey Spectre Corporation is available: Inventory on January 1, 2021 300 at a unit cost of $23. A total of 450 new Inventories were purchased on January 5, 2021, each had a cost of $24. Out of these newly purchased inventories, 60 were damaged thus returned back to the seller, on January 6, 2021. Harvey Spectre made a sale of 600 units on January 8, 2021. The selling price per unit of the inventories were $88. The customers of Harvey Company did not approve the quality of the inventories sold to them, thus 100 units were returned back to Harvey Spectre Corporation, On January 8, 2021. On January 15, 2021, Harvey Spectre Corporation purchased new 280 inventories for $22 each. Harvey Spectre Corporation again purchased 200 new inventories on January 16, 2021, paying $4600 in total for the 200 new inventories. On January 21, 2021, Harvey Spectre Corporation sold 180 inventories to it's customers, at a selling price of $87 per unit. On January 18, 2021, Harvey Spectre Corporation sold another 100 inventories to it's customers. The selling price per unit was $90. Assume that Harvey Spectre Corporation follows a periodic inventory system