Splish Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $25 per unit. None of this inventory was sold in 2016. Relevant information is as follows. Ending inventory units December 31, 2016 127 December 31, 2017, by purchase date December 2, 2017 July 20, 2017 127 50 177 During the year 2017, the following purchases and sales were made Purchases Sales March 15 327 units at $30 April 10 227 July 20 37 units at 32 August 20 327 September 4 227 units at 36 November 18 177 December 2 127 units at 38 December 12 227 The company uses the periodic inventory method