On December 1, 2022 . Sheridan Company had the account balances shown below. (3,500$0.60) The following transactions occurred during December: Dec. 3 Purchased 3,800 units of inventory on account at a cost of $0.70 per unit. 5 Sold 4,200 units of inventory on account for $0,86 per unit. (Sheridan sold 3,500 of the $0.60 units and 700 of the $0.70 ) 7 Granted the December 5 customer $207 credit for 200 units of inventory returned costing $138. These units were returned to imentory. 17. Purchased 2,000 units of iriventory for cash at $0.76 cach. The following transactions occurred during December: Dec.3 Purchased 3,800 units of inventory on account at a cost of $0.70 per unit. 5. Sold 4.200 units of inventory on account for $0.86 per unit. (Sheridan sold 3.500 of the $0.60 units and 700 of the 50.70.1. 7 Granted the December 5 customer $207 credit for 200 units of inventory returned costing $138. These units were returned to inventory. 17 Purchased 2,000 units of inventory for cashat $0.76 each. 22. Sold 2.600 units of imentory on account for 50.91 per unit. ( 5 heridan sold 2,600 of the 50.70 units) Adjustment data: 1. Recognized accrued salaries payable $500. 2. Recornized depreciation $240 per month Compute ending imventory and cost of goods sold under FIFO, assuming Sheridan Company uses the periodic inventory system, Ending Inventory Cost of Goods Sold eTextbook and Media List of Accounts Attempts: 0 of 5 used Compute ending inventory and cost of goods sold under LIFO. assuming Sheridan Company uses the periodic inventory system. Compute ending inventory and cost of goods sold under LIFO, assuming Sheridan Company uses the periodic inventory system. Ending Inventory Cost of Goods Sold List of Accounts Attempts: 0 of 5 used