The inventory records of Cushing Inc. reflected the following information for the year ended December 31, 2019: Number of Units 200 Unit Cost $ 12,5 Total Cost $ 2,500 320 403 920 15.6 16.8 4,000 6, 403 $13,700 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 inwentary 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