hout each accounting period but appliles its inventory costing Scrappers Supplies tracks the n method at the end of each perigd, 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 of units purchased and sold 20 26 (35e) 250 (50) a. Purchase on account, March 2 (548 each) 30 c. Purchase on account, June 30 TIP Although the purchases and sales are listed in chr purchases have occurred onological order Scrappers determines the cost of goods sold afte all of the ReferencesRequired: 1 Compute the cost of goods available for sale, cost of ending inventory, and cost of goods sold at December 31 under each of the g inventory costing methods: (Round "Cost per Unit" to 2 decimal places.) d. Specific identification, assuming that the April 1 sale was selected one-fifth from the beginning Inventory and four-fifths from the 2. Of the four methods, which will result in the highest gross proft? Which will result in the lowest income taxes? from the purchase of June 30 Reg IA Req 1 Req 1CReq 1D Req 2A R 8 LIFO method. (Round "Cost per Unit" anwers to 2 t out of cood ealele ror sseo coat or endingmerad cosmber 31 uaing the per Total Prey 1 of 5 Next > of June 30. 20 Req 1A Req 1B Req 1C Req 2A Req 2B 31 using the 200 S 24.00$ 4,800 June 30 250 S 30.00