On December 1, 2020, Waterway Printers had the account balances shown below. Cash Accounts Receivable Inventory Equipment Debit 13,485 11,310 5,655 60,900 91,350 Accumulated Depreciation-Equipment Accounts Payable Share Capital - Ordinary Retained Earnings Credit 4,350 8,700 58,000 20,300 91,350 *(8,700 x 0.65) The following transactions occurred during December: Dec. 3 5 7 Purchased 11,600 units of inventory on account at a cost of 0.72 per unit. Sold 12,760 units of inventory on account for 0.92 per unit. (It sold 8,700 of the 0.65 units and 4,060 of the 0.72.) Granted the December 5 customer 534 credit for 580 units of inventory returned costing 408. These units were returned to inventory. Purchased 6,380 units of inventory for cash at 0.78 each. Sold 5,800 units of inventory on account for 0.95 per unit. (It sold 5,800 of the 0.72 units.) 17 22 Adjustment data: 1. Accrued salaries payable 1,160. Depreciation 580 per month 2. Compute ending inventory and cost of goods sold under FIFO, assuming Waterway Printers uses the periodic inventory system. Ending Inventory Cost of Goods Sold Compute ending inventory and cost of goods sold under average-cost, assuming Waterway Printers uses the periodic inventory system. (Round weighted average cost per unit to 3 decimal places, e.g. 0.255.) Ending Inventory Cost of Goods Sold