Steward Co.'s beginning inventory and purchases during the year were as follows: Unit Units Cost Total Cost January 1 Inventory 1,000 $50.00 $ 50,000 March 10 Purchase 3,000 52.00 156,000 June 25 Sold 1,600 units August 30 Purchase 2,600 55.00 143,000 October 5 Sold 4,000 units November 26 Purchase 1,000 57.68 57,680 December 31 Sold 800 units Total 7,600 $406,680 Instructions: 1. Determine the cost of inventory on December 31, 2021, using perpetual inventory system Based on the following inventory costing methods: a. first-in, first-out b.last-in, first-out Note: You may use word document or excel spreadsheet. Please show all relevant calculations