Scrappers Supplies tracks the number of units purchased and sold throughout each accounting period applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31. Transactions Units Unit Cost Beginning inventory, January 1 240 $21 Transactions during the year: a. Purchase on account, March 2 320 23 (390) b. Cash sale, April 1 ($37 each) c. Purchase on account, June 30 290 27 d. Cash sale, August 1 ($37 each) (95) TIP: Although the purchases and sales are listed in chronological order, Scrappers determines the cost goods sold after all of the purchases have occurred. Required: 1. Compute the cost of goods available for sale, cost of ending inventory, and cost of goods sold at December 31 under each of the following inventory costing methods: (Round "Cost per Unit" to 2 decimal places.) a. Last in, first-out. LIFO (Periodic) Units Cost per Beginning Inventory 240 21.00 5,040 Purchases March 2 320 23.00 June 30 290 27.00 Total Purchases 610 15,190 850 Goods Available for Sale 20,230 Cost of Goods Sold Units from Beginning inventory Units from March 2 Purchase 23.00 290 s 27.00 Units from June 30 Purchase Total Cost of Goods Sold 290 7,830