Periodic Inventory System and Inventory Costing Methods P2. The inventory of Wood4Fun and data on purchases and sales for a two-month tollow. The company closes its books at the end of each month. It uses the inventory system. penod he periodic Apr. 1 Beginning inventory 50 units @ $204 100 units @ $220 90 units 60 units 100 units @ $216 50 units @ $224 60 units @ $234 10 Purchase 17 Sale 30 Ending inventory May 2 Purchase 14 Purchase 22 Purchase 30 Sale 31 Ending inventory 200 units 70 units REQUIRED 1. Compute the cost of ending inventory of Wood4Fun on April 30 and May 31 using 2. Compute the cost of the ending inventory on April 30 and May 31 using the FIHO 3. Compute the cost of the ending inventory on April 30 and May 31 using the LIFO 4. ACCOUNTING CONNECTIONDo the cash flows from operations for April and the average-cost method. In addition, determine cost of goods sold for April and May. (Round unit costs to the nearest cent.) method. In addition, determine cost of goods sold for April and May method. In addition, determine cost of goods sold for April and May May differ depending on which inventory costing method is used--average-co FIFO, or LIFO? Explain