Wildhorse Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $24 per unit. None of this inventory was sold in 2019. Relevant information is as follows. Ending inventory units December 31, 2019 December 31, 2020, by purchase date December 2, 2020 July 20, 2020 195 195 50 245 During the year 2020, the following purchases and sales were made. Purchases Sales March 15 395 units at $29 April 10 295 July 20 September 4 December 2 395 units at 31 August 20 395 295 units at 34 November 18 245 195 units at 37 December 12 295 The company uses the periodic inventory method.