Gladstone Company 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.

Amount of Goods Ending Inventory Cost of Goods Available for Sale Sold a. Last-in, first-out $ 583,000 b. Weighted average cost 583,000 C. First-in, first-out $ 583,000 d. Specific identification 583,000 $ 284,250 $ 298,750Transactions Units Unit Cost Beginning inventory, January 1 3,100 $ 40 Transactions during the year: a. Purchase, January 30 4,400 55 b. Sale, March 14 ($100 each) (2,750) C. Purchase, May 1 3,100 70 d. Sale, August 31 ($100 each) (3,200)