PB7-1 Analyzing the Effects of Four Alternative Inventory Methods in a Periodic Inventory System (LO 7- 3] Mojo Industries 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 accounting period, January 31. The inventory's selling price is $16 per unit. Transactions Unit Cost Units Total Cost Inventory, January 1 $6.00 200 $1,200 Sale, January 10 (148) Purchase, January 12 1,625 Sale, January 17 (150) Purchase. January 26 7.50 6.50 250 5e 375 Assume that for Specific identification method the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase. PB7-1 Analyzing the Effects of Four Alternative Inventory Methods in a Periodic Inventory System (LO 7- 3] Mojo Industries 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 accounting period, January 31. The inventory's selling price is $16 per unit. Transactions Unit Cost Units Total Cost Inventory, January 1 $6.00 200 $1,200 Sale, January 10 (148) Purchase, January 12 1,625 Sale, January 17 (150) Purchase. January 26 7.50 6.50 250 5e 375 Assume that for Specific identification method the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase