Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory

costing method at the time of each sale, as if it uses a perpetual inventory system. Assume its accounting records provided the

following information at the end of the annual accounting period, December $31.$

Calculate the cost of goods sold and ending inventory for Gladstone Company assuming it applies the LIFO cost method

perpetually at the time of each sale.

Answer is complete but not entirely correct.