October 17, 20210 1007 PM Craig Company buys and sells one product. Its beginning inventory, purchases, and sales during calendar-year 2018 follow. Problem Date Activity Units Acquired at Total Units Sold at Retail Unit Inventory Cost Jan. 1 Beg. Inventory 400 units $14 $5,600 400 units Jan 15 Sale 200 units @ $30 200 units Mar. 10 Purchase 200 units $15 $3,000 400 units Apr. 1 Sale 200 units $30 200 units May 9 Purchase 300 units $16 $4,800 500 units Sep. 22 Purchase 250 units @ $20 = $5,000 750 units Nov. 1 Sale 300 units @ $35 450 units Nov. 28 Purchase 100 units $21 = $2,100 550 units Totals 1,250 units $20,500 700 units 550 units Additional tracking data for specific identification: (1) January 15 sole-200 units $14, (2) April 1 sale-200 units @ $15, and (3) November 1 sale-200 units @ $14 and 100 units @ $20 1. What is the cost of Good Available for Sale ? How many units available for sale? 2. Using the Periodic System, determine Cost of Goods Sold (COGS) and Ending Inventory using one of the methods: Specific Identification, Weighted Average, FIFO or LIFO. Show your work. 3. Explain how the calculation might be different if you used Perpetual System instead