P6-2A. Inventory Costing Methods-Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the items in the merchandise inven- tory consisted of 120 units with a unit cost of $330. Transactions for this item during April were as follows: 9 Purchased 40 units @ $345 per unit. 14 Sold 80 units @ $550 per unit. 23 Purchased 20 units @ $350 per unit. 29 Sold 40 units @ $550 per unit. April