On December 1, 2022, Matthias Company had the following account balances. Debit Credit Cash $4,300 $1,600 Accounts Receivable 3.700 2.900 Accumulated Depreciation-Equipment Accounts Payable Common Stock Retained Earnings 1,740 18,200 Inventory Equipment 20,300 7,340 $30,040 $30,040 *(2.900 x $0.60) The following transactions occurred during December Dec 3 5 7 Purchased 3.900 units of inventory on account at a cost of $0.74 per unit. Sold 4.200 units of inventory on account for $0.90 per unit. (Matthias sold 2.900 of the $0.60 units and 1.300 of the $0.74) Granted the December 5 customer $270 credit for 300 units of inventory returned costing $216. These units were returned to inventory Purchased 2.500 units of inventory for cash at $0.80 each. Sold 2.500 units of inventory on account for $0.95 per unit. (Matthias sold 2.500 of the $0.74 units.) 17 22 Adjustment data: 1. Accrued salaries payable $430. Depreciation $220 per month 2. le) Compute ending inventory and cost of goods sold under FIFO, assuming Matthias Company uses the periodic inventory system. $ Ending Inventory $ 3891 Cost of Goods Sold e Textbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (f) Compute ending inventory and cost of goods sold under LIFO, assuming Matthias Company uses the periodic inventory system. $ Ending Inventory S Cost of Goods Sold eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit