The inventory records ot Cushing, Inc., reflected the following information tor the year ended December 31, 2016: Inventory, January 1 Purchases May 30 September 28 Goods available for sale Sales: April 10 June 11 November 1 Inventory, December 31 Required: Number of Units 200 320 400 920 (140) (300) (380) unit Cost 12.5 15.0 17.0 Total Cost 2,500 4,800 6,800 14, 100 a. Assume that Cushing, Inc., uses a periodic inventory system. Calculate cost ot goods sold and ending inventory under FIFO and LIFO Cost of goods sold Ending inventory 12,400 1,700 s 12,850 1,250 b. Assume that Cushing, Inc., uses a perpetual inventory system. Calculate cost ot goods sold and ending inventory under FIFO and LIFO Cost of goods sold Endinginventory s 12,400 s 12,71