Computing inventory by two methods--periodic system P6-9B Cloutier Hardware, which uses a periodic inventory system, began 2020 with 9,000 units of inventory that cost a total of $90,000. At year end, the physical count indicated 10,000 units of inventory on hand. During 2020, Cloutier purchased merchandise on account as follows: $180,000 Purchase 1 (15,000 units) Purchase 2 (30,000 units) 420,000 Required 1. How many units did Cloutier sell during the year? The sale price per unit was $31. Determine Cloutier's sales revenue for the year. 2. Compute cost of goods sold by both the FIFO and the weighted- average-cost method. Then determine gross margin for the year under each method. 3 Using the periodic inventory system-FIFO and weighted- average P6-10B The Cookie Company (TCC) began August 2020 with 100 units of inventory that cost $60 each. The sale price of each of those units was $100. During August, TCC completed these inventory transactions: Units Unit Cost Unit Sale Price Aug 3 Sale 32 $60 $100