Problem (HW: The table below summarizes the beginning inventory, purchases, and sales of X Company's single product during January. Date Jan. 1 Inventory Beginning Inventory and Purchases Cost $19 Units Total Sales Units 4 Sale 8 Purchase 10 Sale 12 Purchase 15 Sale 18 Purchase 24 Purchase 31 Sale 1,400 600 900 500 $26,600 12,000 18,900 11,000 300 1,300 150 20 21 800 23 18,400 1350 3,100 Totals 4,200 $86,900 REQUIRED 1. Assuming that the company uses the periodic inventory system, compute the cost that should be assigned to ending inventory and to cost of goods sold using (a) the average-cost method, and (b) the FIFO method. Assuming that the company uses the perpetual inventory system, compute the cost that should be assigned to ending inventory and to cost of goods sold using (a) the average-cost method, and (b) the FIFO method. 2