Problem 8.5A (Static) Periodic Inventory Costing Procedures (LO8-4) Clear Sound Audio uses a periodic inventory system. One of the store's most popular products is an MP8 car stereo system. The inventory quantities, purchases, and sales of this product for the most recent year are as follows. Required: a. Using periodic costing procedures, compute the cost of the December 31 inventory and the cost of goods sold for the MP8 systems during the year under each of the following cost flow assumptions. (Round your unit cost values to 2 decimal places and final answers to the nearest whole dollar amount.)