Mini-Exercise 5-6 (Algo) Cost flow assumptions-FIFO and LIFO using a periodic system LO 5-7, 5-8 The beginning inventory was 340 units at a cost of $13 per unit. Goods available for sale during the year were 1,420 units at a tota cost of $19,980. In May, 640 units were purchased at a total cost of $8,960. The only other purchase transaction occurred during October. Ending inventory was 610 units. Required: a. Calculate the number of units purchased in October and the cost per unit purchased in October. b. 1. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. 2. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. Complete this question by entering your answers in the tabs below. Calculate the number of units purchased in October and the cost per unit purchased in October. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. Note: Enter all values as a positive value. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. Note: Enter all values as a positive value