3. A company uses the periodic inventory system, and the following information is available. All purchases and sales are on credit. Unit Unit Cost Total Cost Unit Price Dec 1 Inventory Balance 30 S3 $90 Dec 6 Purchase 70 4 280 Dec 11 Purchase 45 5 225 Dec 16 Purchase 30 6 300 Goods available $ 895 195 $10 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