iestiun3 (20 points) Sherman Electric the purchases during the current year, were as uses a periodic inventory system. The beginning inventory of a particular product, and follows: 1 Beginning inventory... 60 units 3 units $1153,450 90 units $125 1.250 20 units@$1352.700 $23.700 8 Purchase Aug. 11 Purchase Oct. 23 Purchas. Total available for sale. 200 units At December 31, the ending inventory of this product consisted of 65 units Using periodic costing procedures, determine (1) cost of the year-end inventory and, (2) cost of goods sold relating to this product under each of the following flow assumptions: Cost of Goods Sold at Dec. 31 Inventory a Average cost b First-in, first-out c Last-in, first-out