Northgate Products Corp. sells gadgets and uses the perpetual inventory system. During the month of January $2019,$ the number of gadgets purchased and sold was as follows: Purchased Sold Balance in inventory Date Units Unit cost Total $ Units Unit cost Total $ Units Unit cost Total $ Jan. $1200$ $$23400$ $$38400$ $$510700*15300$ $$720300**27400$ $$7$ Units were sold for the following amount: Jan $10$ $$11$ Jan $20$ $$12*$for specific identification, units sold on June $10$ came from: Opening inventory $0$ Jan. $3$ purchase $380$ Jan. $8$ purchase $320700**$for specific identification, units sold on June $20$ came from: Opening inventory $0$ Jan. $3$ purchase $0$ Jan. $8$ purchase $60$ Jan. $15$ purchase $240300$ Required: $1$: Complete the applicable inventory record card, and calculate cost of goods sold and the cost of ending inventory under each of the following inventory cost flow assumptions: a$)$ FIFO, b$)$ LIFO, c$)$ Specific Identification, d$)$ Weighted Average $2.$ Prepare the journal entries required to record purchases and sales using the FIFO inventory cost flow assumption. Descriptions are not necessary. $3.$ Refer to the "Compare" page. Calculate the sum of cost of goods sold and ending inventory balances under each of the four inventory cost flow assumptions. Explain the results.