Inventory Costing Methods-Perpetual Method Gleem Sales Corporation uses the perpetual inventory system. On January 1, Gleem had: 2,600 units of product B with a unit cost of $40 per unit. A summary of purchases and sales during the year follows:

Required a. Assume that Gleem uses the first-in, first-out method. Compute the cost of goods sold for the year and the ending inventory balance at December 31 for product B. b. Assume that Gleem uses the last-in, first-out method. Compute the cost of goods sold for the year and the ending inventory balance at December 31 for product B. c. Assume that Gleem uses the weighted-average cost method. Compute the cost of goods sold for the year and the ending inventory balance at December 31 for product B.

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Required a. Assume that Gleem uses the first-in, first-out method. Compute the cost of goods sold for the year and the ending inventory balance at December 31 for product B. b. Assume that Gleem uses the last-in, first-out method. Compute the cost of goods sold for the year and the ending inventory balance at December 31 for product B. c. Assume that Gleem uses the weighted-average cost method. Compute the cost of goods sold for the year and the ending inventory balance at December 31 for product B