The inventory records of Cushing Incorporated reflected the following information for the year ended December 31, 2022: Number of Units Unit Cost Total Cost Inventory, January 1 210 $ 13.0 $ 2,730 Purchases: May 30 320 15.0 September 28 400 17.0 Goods available for sale 930 4,800 6,800 $ 14,330 Sales: April 10 (140) June 11 (300) November 1 (380) Inventory, December 31 110 Required: a. Assume that Cushing, Incorporated, uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. b. Assume that Cushing, Incorporated, uses a perpetual inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. c. Is there a change in cost of goods sold and ending inventory in parts a and b under LIFO. d. The results from the LIFO periodic calculations in part a cannot possibly represent the actual physical flow of inventory items. Complete this question by entering your answers in the tabs below. Req A and B Req C and D a. Assume that Cushing, Incorporated, uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. b. Assume that Cushing, Incorporated, uses a perpetual inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO. FIFO LIFO a. Cost of goods sold a. Ending inventory b. Cost of goods sold b. Ending inventory Req A and B Req C and D > Show less