Question 1: DO IT! 6-2 The accounting records of Connor Electronics show the following data. Beginning inventory 3,000 units at $5 Purchases 8,000 units at $7 Sales 9,400 units at $10 Determine cost of goods sold during the period under a periodic inventory system using (a) the FIFO method and (b) the average cost method. (Round unit cost to nearest tenth of a cent.) Question 2: DO IT. 6-1 Recife Company just took its physical inventory. The count of inventory items on hand at the company's business locations resulted in a total inventory cost of R$300,000. In reviewing the details of the count and related inventory transactions, you have discovered the following. 1. Recife has sent inventory costing R$21,000 on consignment to Rio Company. All of this inventory was at Rio's showrooms on December 31. 2. The company did not include in the count inventory (cost, R$20,000) that was pur- chased on December 28, terms FOB shipping point. The goods were in transit on December 31 3. The company did not include in the count inventory (cost, R$17.000) that was sold with terms of FOB shipping point. The goods were in transit on December 31. Compute the correct December 31 inventory