PA$7-1($Algo$)$ Analyzing the Effects of Four Alternative Inventory Methods in a Periodic Inventory System $[$LO $7-3]$

Gladstone Company tracks the number of units purchased and sold throughout each accounting perlod but applies its Inventory costing method at the end of each period, as if it uses a perlodic Inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December $31.$

$\backslash$table$[[$Transactions$,,$Unit$],[$Beginning inventory, January $1,$Units,Cost$],[$Transactions during the year:,$1,500,$$$40$