The inventory records of Cushing Inc. reflected the following information for the year ended December 31, 2019: Number of Units 200 Unit Cost $ 13.5 Total Cost $ 2,700 320 400 920 14.5 17.0 4,640 6,800 $ 14,140 Inventory, January 1 Purchases: May 30 September 28 Goods available for sale Sales: April 10 June 11 November 1 Inventory, December 31 (140) (300) (380) 100 Required: a. Assume that Cushing, Inc., uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. FIFO LIFO Cost of goods sold Ending inventory b. Assume that Cushing, Inc., uses a perpetual inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. FIFO LIFO Cost of goods sold Ending inventory