EXERCISES (5 marks each) EXERCISE 1 Al Ain Company had a beginning inventory of 2,000 units of Product X at a cost of $20 per unit. During the year, purchases were: March 1 August 1 2,000 units at $21 1,000 units at $24 Al Ain Company uses a periodic inventory system. Sales during the year totaled 3,800 units. Required: (a) Determine the cost of goods available for sale. Answer Calculation: A M