CP$7-1($Algo$)$ Analyzing the Effects of Four Alternative Inventory Costing Methods $[$LO $7-3]$

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 annual accounting period, December $31.$

Transactions

Beginning inventory, January $1$

Transactions during the year:

a$.$ Purchase on account, March $2$

b$.$ Cash sale, April $1($ $$38$ each$)$

c$.$ Purchase on account, June $30$

d$.$ Cash sale, August $1($ $$38$ each$)$

$\backslash$table$[[$Units$,$Unit Cost$],[230,$$$22$