P7-2 (Algo) Analyzing the Effects of Four Alternative Inventory Methods LO7-2 Kirtland Corporation's accounting records showed the following at December 31: Transactions Beginning inventory, January 1 Transactions during the year: Units 500 Unit Cost $5.00 a. Purchase, January 30 400 b. Purchase, May 1 560 4.40 6.00 c. Sale ($7 each) (260) (800) d. Sale ($7 each) Required: a. Compute the amount of goods available for sale. b. & c. Compute the amount of ending inventory and cost of goods sold at December 31 under each of the four inventory costing methods. For Specific identification, assume the first sale was 40% from beginning inventory and 60% from the January 30 purchase. Assume the second sale was from the remainder of the beginning inventory, with the balance from the May 1 purchase. Complete this question by entering your answers in the tabs below. Req A Req B and C Compute the amount of goods available for sale. Goods available for sale < Req A Req B and C >