Sales during the year were 900 units. Beginning inventory was 300 units at a cost of $5 per unit. Purchase 1 was 450 units at $6 per unit. Purchase 2 was 700 units at $7 per unit. 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 Sold Cost per Cost per Cost of Goods Available for Sale Cost of Goods # of Available for units unit Sale $ 0 # of units sold Cost of Goods Sold Inventory Balance # of units Cost per Ending in ending unit Inventory inventory unit Beg. Inventory Purchases: Purchase 1 Purchase 2 Ooo Total 0 $ 0 $ 0 0 $ 0 b. Assume the periodic inventory system is used. Calculate cost of goods sold and ending inventory using LIFO method. (Enter all values as a positive value.) Periodic LIFO Cost of Goods Sold Cost of Goods Available for Sale Cost of Goods # of Available for units unit Sale Cost per # of units sold Cost per unit Cost of Goods Sold Inventory Balance # of units Cost per Ending in ending unit Inventory inventory $ 0 Beg. Inventory Purchases: Purchase 1 Purchase 2 OOO Total 0 $ 0 $ 0 $ 0