Gladstone Limited 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

$15$

points

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$$book

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

$\backslash$table$[[$Beginning inventransactions,Units,Unit Cost$],[\backslash$table$[[$Beginning inventory, January $1],[$Transactions during the year:$],[$a$.$ Purchase$]],1,400,$$$4\mathrm{.}00$