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ework Gladstone Company tracks the number of units purchased and sold costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 throughout each accounting period but applies its inventory Unit Units 1,700 50 Transactions Beginning inventory, January 1 Transactions during the yeari a. Purchase, January 30 b. Sale, Mareh 14 ($100 each) c. Purchase, Kay 1 d. Sale, August 31 ($100 each) 3,200 63 (1,350) 1.900 80 (1, 800) Assuming that for Specific identification method (item 1d) the March 14 sale was selected two-fifths from the beginning inventory and inventory, with the balance from the purchase of May 1 three-fifths from the purchase of January 30. Assume that the sale of August 31 was selected from the remainder of the beginning Required: 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at December 31 under each of the g inventory costing methods: (Round intermediate calculations to 2 decimal places and final answers to the nearest whole dollar amount.) Amount of Goods Available for Sale Ending Inventory Cost of Goods Sold a. Last-in, first-out b. Weighted average cost c. First-Hin first-out d. Specific identification Prev1 of 4 Next > 8 2 3 4 6

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