P6-13B Steward Inc. had a beginning inventory on January 1 of 400 units of product MLN at a cost of $18 per unit. During the year, purchases were as follows: Units Unit Cost Total Cost Feb. 20 1,200 $19 $22,800 May 5 1,000 21 21,000 Aug. 12 1,200 20 24,000 Dec. 8 600 22 13,200 Steward uses a periodic inventory system. At the end of the year, a physical inventory count determined that there were 40o units on hand. Instructions (a) Determine the cost of goods available for sale. (b) Determine the cost of the ending inventory and the cost of goods sold using (1) FIFO and (2) average cost. (Use unrounded numbers in your calculation of the average unit cost but round to the nearest cent for presentation purposes in your answer.) P6-9B FlinFlon Limited sells three products whose prices are sensitive to price fluctuations. The following inventory information is available for these products at March 31, 2018: Product Units Unit Cost Net Realizable Value A 25 $ 7 $7 30 6 8 C 60 11 10 Instructions (a) Calculate FlinFlon's inventory at the lower of cost and net realizable value. (b) Prepare any journal entry required to record the LCNRV, assuming thatFlin Flon uses a perpetual inventory system