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. Transactions Units Unit Cost Beginning inventory, January 1 1,700 $ 45 Transactions during the year: a. Purchase, January 30 3,800 56 b. Sale, March 14 ($100 each) (2,100)