PA7-1 Analyzing the Effects of Four Alternative Inventory Methods in a Periodio Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31. Units Unit Cost 1,700 $45 Transactions Beginning inventory, January 1 Transactions during the year a. Purchase, January 30 b. Sale, March 14 ($100 each) c. Purchase, May 1 d. Sale, August 31 ($100 each) 3,800 56 (2,100) 2,500 75 (2,600)