Using the following information find the unknown amounts. Assume each set of information is an independent case. a. Merchandise Inventory Purchases $420,000 Cost of goods sold 446,000 Beginning balance 82,000 Ending balance ? b. Direct Materials Beginning balance $ 14,000 Ending balance 28,000 Purchases 96,000 Direct materials used ? c. Work-in-process Inventory Ending balance $ 44,000 Cost of goods manufactured 42,000 Beginning balance 16,000 Current manufacturing costs ? d. Finished Goods Inventory Cost of goods manufactured $124,000 Ending balance 40,000 Cost of goods sold 122,000 Beginning balance ? e. Explain the difference between an inventoriable cost and a period cost. What potential problems does an inaccurate classification of product and period costs cause? You must support your discussion by relevant readings and examples