Exercises 4.19 through 4.25 are based on the following information The Downtown Appliance Center, Inc. is a retailer of consumer appliances. One of its products is the Auto-Off Iron which had the following beginning inventory. during the current year: # of Irons Cost per Iron Total Cost January 1 inventory ........ $23 $161 May 6 purchases $26 November 10 purchases $30 $270 Available for sale $795 July 14 sales December 31 inventory......... $364 The selling price of each Auto-Off Iron all year was $40. E4.19 Based on the information provided and assuming The Downtown Appliance Center, Inc. uses a periodic inventory system and the last-in, first-out (LIFO) inventory method, determine cost of goods sold and ending inventory balance. E4.20 Based on the information provided and assuming The Downtown Appliance Center, Inc, uses a periodic inventory system and the first in, first-out (FIFO) inventory method, determine cost of goods sold and ending inventory balance. E4.21 Based on the information provided and assuming The Downtown Appliance Center, Inc. uses a periodic inventory system and the weighted average inventory method, determine cost of goods sold and ending inventory balance. E4.22 Based on the information provided and assuming The Downtown Appliance Center, Inc, uses a perpetual inventory system and the last-in, first-out (LIFO) inventory method, determine cost of goods sold and ending inventory balance. E4.23 Based on the information provided and assuming The Downtown Appliance Center, Inc. uses a perpetual inventory system and the first-in, first-out (FIFO) inventory method, determine cost of goods sold and ending inventory balance