1 points XYZ Company purchases five identical items of finished product inventory on different dates at costs of $50, $55, $60, $65, and $70. During the year, they sold three items at $80 each. Which of the following statements is true? The cost of goods sold will be $195 when XYZ Company uses the FIFO-method The cost of goods sold will be $195 when XYZ Company uses the LIFO-method. The cost of goods sold will be $205 when XYZ Company uses the FIFO-method. The cost of goods sold will be $205 when XYZ Company uses the LIFO-method. Question 2 Save