P$7-2($Algo$)$ Analyzing the Effects of Four Alternative Inventory Methods LO$7-2$

Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December $31,$ the accounting records for the most popular item in inventory showed the following:

$\backslash$table$[[$Transactions$,$Units,Unit cost$],[$Beginning inventory, January $1,380,$$$3\mathrm{.}00$