PA7-4 (Algo) (Supplement 7A) Analyzing the Effects of the LIFO Inventory Method in a Perpetual Inventory System [LO 7-S1] Gladstone Comparny tracks the number of units purchased and sold throughout each accounting perlod but applies its inventory costing method at the time of each sale, as if it uses a perpeltal inventory system. Assume its accounting records provided the following information at the end of the annuat accounting pertod, December 3t 1. Calculate the cost of goods sold and ending inventory for Gladstore Company assuming it applies the LIFO cost method perpetually at the time of each sale