[The following information applies to the questions displayed below.] Broadhead Company 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 2,950 $ 11 For the current year: Purchase, April 11 8,860 9 Purchase, June 1 7,940 14 Sales ($53 each) 10,830 Operating expenses (excluding income tax expense) $ 192,500.