Assume P accounts for inventory periodically P's balance in inventory at the beginning of the year is 203 units at $7 each During the year o P purchases 1015 units on account for $7 each o P sells 974 units for $13 each At the end of the year a physical count of inventory indicates 225 units remain a. The cost of beginning inventory is: 1421 b. The cost of inventory purchases is: 7105 C. The cost of ending inventory is: 1708 x d. The cost of goods sold expense for the year: 6818 e. During the year sales revenue is: 12662