G-Mac Corporation reports the following inventory data for the month of January:

A physical inventory count determined that there were 15 units on hand at the end of January.
(a) Calculate the cost of the ending inventory and cost of goods sold under FIFO, assuming G-Mac uses a periodic inventory system. (Round your answers to the nearest cent.)
(b) Would your answers to part (a) differ if G-Mac used a perpetual inventory system? Explain.
(c) Five of the 15 units on hand that were purchased on January 15, were damaged and had no resale value. Prepare the entry to reflect the damaged inventory under FIFO and a periodic inventory system.

Date Explanation Jan Beginning inventory Units Unit Cost Total Cost 15 Purchases 27 Purchases 15 13 16 $4.5067.50 90.00 45058.50