NOPQ Inc. uses the LIFO method and operates under a perpetual inventory system. For the year ended December 31, 2023, the following data is provided:

• Beginning Inventory: 1,200 units at $22 per unit
• Purchases:
  • April 1: 2,000 units at $24 per unit
  • July 1: 1,500 units at $26 per unit

• Sales:
  • 3,500 units sold during the year

• Ending Inventory: 1,200 units

a. Calculate the cost of goods sold (COGS) for NOPQ Inc. for 2023 using the LIFO method. b. Determine the value of ending inventory using the LIFO method. c. Compare the results obtained under the periodic inventory system with those under a perpetual inventory system. d. Discuss how the choice between periodic and perpetual inventory systems affects NOPQ Inc.’s financial reporting and decision-making.