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Units Inventory Costing Methods-Periodic Method Chen Sales Corporation uses the periodic inventory system. On January 1, 2012. Chen had 1,000 units of product A with a unit cost of 570 per unit. A summary of purchases and sales during 2012 follows: Unit Units Cost Purchased sold Feb 2 400 Apr 172 1.100 July 10 Aug 800 Oct 23 Dec 30 79 1,600 75 800 1.200 Required 4. Assume that Chen uses the first in, first-out method. Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012, for product A b. Assume that Chen uses the last-in, first-out method. Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012, for product A c. Assume that Chen uses the weighted average cost method. Compute the cost of goods sold for 2012 and the ending inventory balance at December 31, 2012. for product A Do not round until your final answers. Round your answers to the nearest dollar istut Ending inventory 0 Cost of Goods Sol 0 Listin, first-out Ending Inventory Cost of Goods Sold Weighted Ending inventory Cost of goods sold 0 0 d. Assuming that Chen's products are perishable items, which of the three inventory costing methods would you choose to: Assume this is during a period of rising costs. 1. Reflect the likely goods flow through the business? 2. Minimize income taxes for the period? 3. Report the largest amount of net income for the period? Please answer all parts of the question e

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