Albright Corporation opened a new store on January 1, 2021. During 2021, the first year of operations, the following purchases and sales of inventory were made: Required: 1. Calculate the cost of goods available for sale and the number of units of ending inventory. 2. Assume Albright uses average periodic. Calculate the value of the ending inventory, cost of goods sold and gross profit. 3. Assume Albright uses average perpetual. Calculate the value of the ending cost of goods sold, and gross profit. 4. On December 31,2021 , the company realizes the inventory has a net realizable value of $800 per unit. What amount should be reported on the balance sheet on December 31 ? Record the adjusting entry