3. A company uses the periodic inventory system, and the following information is available. All purchases and sales are on credit. Dec 1 Inventory Balance------- Dec 6 Purchase-- Dec 11 Purchase-- Dec 16 Purchase-- Goods available- Unit Unit Cost 30 S3 70 4 45 5 50 6 195 Total Cost Unit Price $ 90 280 225 300 $ 895 au $10 11 Dec 12 Sale- Dec 20 Sale Goods sold--- Dec 31 Inventory Balance- 100 60 160 35 (a) Prepare the general journal entries to record: The October 6 purchase. The October 12 sale. (b) Assuming the periodic inventory system is used, determine both the cost of the ending inventory and the cost of goods sold using the LIFO method for October