Cant figure out Periodic system along with how that affects LIFO, along with how to find the 2nd question. very frustrating. Please help with explanation.

Strong Jewels uses a periodic inventory system. The company had ve one-carat diamonds available for sale this year: one was purchased on June 1 for $500, two were purchased on July 9 for $550 each, and two were purchased on September 23 for $600 each. On December 24, it sold one of the diamonds that was purchased on Julglr 9. Using the LIFO method, its ending inventory (after the December 24 sale} equals: [1} $2300 [2} $2250 [3} $500 [4} $2200 Aquaua Inc. uses a perpetual inventory system. The following transactions tool: place during the month of August: August 2 I 25 units were purchased at $12 per unit August 5 I 10 units were purchased at $13 per unit August 15 12 units were sold at $25 per unit August 18 I 15 units were purchased at $14 per unit If Aquana uses the LIFO method, what: is the ending inventory at August 3]? [1} $495 [1} $435 [3} $492.5? [4} $300 [5} $510