At the end of the annual accounting period, the accounting records provided the following information (assume the periodic inventory system): Units Beginning Inventory 10,000 Purchases April 23 4,000 Purchases August 17 2,000 Purchases December 26 1,000 Ending Inventory 7,000 Unit Cost $14 $13 $12 $11 A. Compute the balance of ending inventory using both the FIFO and LIFO methods (6 points).