Gladstone Limited tracks the number of units purchased and soid 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 it Required: 1. Calculate the Cost of Goods Sold and Ending Inventory for Gladstone Limited assuming it applies the LIfO cost method 2.a. Calculate the Cost of Goods Sold and Ending inventory assuming it applies the LIFO cost method perpetually at the time of each sale. 2.6. Does the use of a perpetual inventory system result in a higher or lower Cost of Goods Sold when costs are nsing