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: Unit Units Units Cost Purchased Sold Jan. 3 1,600 Mar. 8 June 13 $44 3,000 2,000 Sept.19 50 Nov.23 55 Dec.28 800 1,200 1,800 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. a. First-In, First-Out Ending Inventory $ 0 x Cost of goods Sold $ 0 x b. Last-In, First-Out Ending Inventory $ Cost of Goods Sold $ 0 x 0 % c. Weighted Average Ending Inventory $ Cost of Goods Sold $ 0 x 0 % Check