The following information applies to the questions displayed below Beck Inc. uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2: Units Unit Cost Inventory, December 31, prior year For the current year 7400 12 Purchase, March 5 Purchase, September 19 Sale ($27 each) Sale ($29 each) Operating expenses (excluding income tax expense) 19,4010 0,400 6 8,400 6,400 $404,000