Ans to questions a, b, c and d

Scrappers Supplies tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system Assume its accounting records provided the following information at the end of the annua accounting period, December 31. Transactions Units Unit Cost Beginning inventory, January 1 Transactions during the year. a. Purchase on account, March 2 b. Cash sale, April 1 ($54 each) c. Purchase on account, June 30 d. Cash sale, August 1 ($54 each) 200 $38 350 40 (350) 250 (70) FIP: Although the purchases and sales are listed in chronological order, Scrappers determines the cost of goods sold after all of the purchases have occurred. Required: 1. Compute the cost of goods available for sale, cost of ending inventory, and cost of goods sold at December 31 under each of the following inventory costing methods: (Round "Cost per Unit" to 2 decimal places.) a. Last-in, first-out LIFO (Periodic) Cost per Total Beginning Inventory Purchases March 2 June 30 Total Purchases 0 Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units from March 2 Purchase Units from June 30 Purchase Total Cost of Goods Sold 0 Ending Inventory