On December 1, 2022 Matthias Company had the following account balances, Debit Credit Cash $5,000 $1.500 Accounts Receivable 4,300 3.200 Accumulated Depreciation-Equipment Accounts Payable Common Stock Retained Earnings Inventory 1,800 19.500 Equipment 22,000 8.900 $33,100 $33,100 "3.000 x 50.60) The following transactions occurred during December. Dec.3 5 7 Purchased 3,900 units of inventory on account at a cost of $0.75 per unit. Sold 4.200 units of inventory on account for $0.90 per unit. (Matthias sold 3,000 of the $0.60 units and 1.200 of the $0.75) Granted the December 5 customer $90 credit for 100 units of inventory returned costing 572. These units were returned to inventory Purchased 2,100 units of inventory for cash at $0.80 each Sold 1.900 units of inventory on account for 50.95 per unit (Matthias sold 1.900 of the 50.75 units.) 17 22 Adjustment data: Adjustment data: Accrued salaries payable $440. 2. Depreciation $220 per month Your answer is incorrect Compute ending inventory and cost of goods sold under FIFO, assuming Matthias Company uses the periodic inventory system. $ Ending Inventory Cost of Goods Sold $ I e Textbook and Media 0 Compute ending inventory and cost of goods sold under LIFO, assuming Matthias Company uses the periodic inventory system. $ Ending Inventory Cost of Goods Sold $