Washington Company is a private company that sells household appliances. It has elected to follow PE GAAP and uses the direct method to record inventory at the lower of cost and net realizable value. A physical inventory count is conducted at the end of each fiscal year. Following is information on one product, a juicer. Units Unit Cost Total Cost Beginning Inventory 7,200 $13.20 $95.040 (Purchases and sales occur in order given) Purchase 1 4,000 13.30 53,200 Sale A (8,000) Purchase 2 12.800 13.50 172,800 Sale B (8,800) Purchase 3 3,200 14.00 44.800 Purchase 4 5,600 13.60 76.160 Sale C (11,200) Purchase 5 4,000 13.25 53,000 Additional information: a) The year-end inventory count showed 8,300 juicers on hand. b) During the year, the average selling price per juicer was $16.00. c) At year end, due to the introduction of a better juicer by a competitor, management estimates they can only sell the juicer inventory at $15 each. Management estimates that the cost to sell the juicer inventory would be $1.75 per juicer. Required: Determine the ending inventory and cost of goods sold, assuming Washington uses: 1. Perpetual inventory system and FIFO cost formula. Washington records any variance between the perpetual inventory record and the physical inventory count as an adjustment of cost of goods sold. 2. Periodic inventory system and weighted average cost formula