Periodic Inventory System and Inventory Costing Methods P2. The inventory of Wood4Fun and data follow. The company closes its books at the end of each month. It uses th inventory system. on purchases and sales for a two-month peri eperi 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 the average-cost method. In addition, determine cost of goods sold for April and 2. Compute the cost of the ending inventory on April 30 and May 31 using the FIFO 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 Apni ai 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 o FIFO, or LIFO? Explain