Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows. Jan. 1 Teb. 23 Apr. 20 May 4 Nov. 30 46.20 Beginning inventory Purchase Purchase Purchase Purchase Total 15 units $3.00 14 units $3.50 27 units. $3.80 44 unito e $4.00 18 units. $5.00 118 units $ 45.00 49.00 102.60 176.00 90.00 $ 462.60 A physical count indicates 23 units in inventory at year-end. Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation (Remember to use periodic inventory costing procedures ) (Round your intermediate and final answers to 2 decimal places.) Ending Inventory a. Average cost b. FIFO OLIFO m 2 A Saved . Shown below is an adjusted trial balance for Novelty Toys, Incorporated on December 31, Year 1: 7. 03:45:25 Credit Novelty Toys, Incorporated Adjusted Trial Balance December 31, Year 1 Debit Cash $ 15,100 Accounts Receivable 12,550 Office Equipment 21,700 Accumulated Depreciation Accounts Payable Capital Stock Retained Earnings Dividends 7,100 Fees Earned Salaries Expense 15,200 Advertising Expense 3,050 Depreciation Expense 4,050 Totals $ 78,750 $ 5,600 7,550 22,100 -0- 43,500 $ 78,750 After closing the accounts, Retained Earnings at December 31 equals: Multiple Choice $21.200 $14,100 Zero. $43.500