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Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015. Gleem had 2,600 units of product B with a

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Inventory Costing Methods-Periodic Method The Gleem Sales Corporation uses the periodic inventory system. On January 1.2015. Gleem had 2,600 units of product B with a unit cost of s40 per unit. A summary of purchases and sales during 2015 follows: Unit Units Units Cost Purchased Sold Jan.3 Mar.8 $44 3,000 June 13 Sept.19 46 Nov.23 Dec.28 1,600 2,000 800 48 1,200 1,800 Required a. Assume that Gleem uses the first-in, first-out method Compute the cost of goods sold for 2015 and the ending inventory balance at December 31. 2015, for product B and the ending inventory balance at December 31, 2015. for product B for 2015 and the ending inventory balance at December 31, 2015. for product B b. Assume that Gleem uses the last-in, first-out method. Compute the cost of goods sold for 2015 C Assume that Gleem uses the weighted-average cost method. Compute the cost of goods sold Do not round until your final answers. Round answers to the nearest dollar Frsih FiroU 0 Ending Invensory

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