Sales during the year were 300 units. Beginning inventory was 300 units at a cost of $5 per unit. Purchase 1 was 450 unitats per unit. Purchase 2 was 700 units at $? perunt Required: a. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using FIFO method. (Enter all values as a positive value) Periodic FIFO Cost of Goods Available for Sale Cost of Goods Cost of Goods Sold Cas c ostof of Cost per Inventory Balance of units Cost per Ending vory f or Beg Inventory (Purchases Purchase 1 Purchase 2 Total 500300 b. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. (Enteral values as a positive val Periodic LIFO Cost of Goods Available for Sale Cost Cost of goods unit Available for Sale Cost of Goods Sold of units Cost per cost of t de sold fun Inventory cost per unit Ending Inventory a Beginventory Purchases: Purchase 1 Purchase 2 Total