2. e 0.57 points PA7-1 Analyzing the Effects of Four Alternative Inventory Methods in a Periodic Inventory System [LO 7-3] Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies ts inventory costing method at the end of each period, as if it uses a periodic inventory system Assume ts accounting records provided the following information at the end of the annual accounting period, December 31 Units Unit Cost 2,200 $55 Beginning inventory, January 1 Transactions during the year a Purchase, January 30 b. Sae, March 14 ($100 each) C. Purchase, May 1 d. Sale, August 31 ($100 each) 3.350 65 1,850) 2,050 85 2,300) Assuming that for Specific identification method (cem 1d) the March 14 sale was selected two-fifths from the begineing inventory and three-fifths from the purchase of January 30 Assume that the sale of August 1 was velected from the remainder of the beginning invertory, with the balance from the purchase of May Required: 1. Compute the amount of goods available for sale, ending inventory and cost of goods sold at December 31 under each of the folowing inventory costing methods: (Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount Amount of Goods Cost of Goods Sold Available for Sale Ending Inventory a Last-n, fast-out b. Weighted average cos c. First in, fest-out d. Specific identtfication