Exercise 2 Emmy Company provided the following information relating to inventory for the month of December: Units Unit Cost Unit Selling Price Dec 1 Beginning 10,000 52.00 7 Purchase 30,000 50.00 12 Production 20,000 17 Purchase 60,000 45.00 22 Purchase 30,000 43.00 28 Production 70,000 Required: Assuming the entity used the periodic system, compute the Dec. 31 inventory and cost goods under: 1. FIFO 2. LIFO 3. Weighted Average