Serappers Supplies tracks the number of units purchased and sold throughout each accounting period but 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 Cost Beginning inventory, January 1 Transactions during the year a. Purchase on account, March 2 b. Cash sale, April 1 ($45 each) c. Purchase on account, June 30 d. Cash sale, August 1 ($45 each) 170 $29 285 31 (320) 220 35 (40) TIP: Although the purchases and sales are listed in chronological order, Scrappers determines the cost of goods sold afher all of the purchases have occurred Required: December 31 under each of the following inventory costing methods: (Round "Cost per Unit" to 2 decimal places.) a. Last-in, first-out Periodic) mts Cout plr Total Units Unit Beginning Inventory 170 $ 29.00$4.930 Purchases March 2 June 30 285 S31.00 220 535.00 505 Total Purchases 16.535 Goods Avalaple for 3ale Cost of Goods Sod Units from Begnal9 nyenteTY