TER szibasri M 1. Acme has the following information about its periodic inventory. Units Beginning inventory 120 Purchase 1 250 Purchase 2 500 Purchase 3 450 Totals 1,320 Total Cost $ 360 700 Unit Cost $ 3.00 2.80 2.50 2.20 990 $3,300 1,250 Acme's ending inventory consists of 50 units.. Calculate the costs to be assigned to the ending inventory and to goods sold under: a. weighted average cost basis b. FIFO. C. LIFO 2. Baker Company, which uses a periodic inventory system, miscounted its ending inventory in Year 1, causing it to be understated. The error was not detected. Using the symbols U, O, and NE to represent understated, overstated, and no effect, indicate the impact of the error on each of the following items. Year 1 cost of goods sold Year 1 gross profit Item Year 1 ending owner's capital Year 2 cost of goods sold Year 2 net income Effect to