5. ABC company uses a periodic inventory system. The following information is available for the month of May: May 1 on hand, 20 units at $10 each purchased, 100 units at 11 each purchased, 50 units at 12 each Total cost of goods available for sale on hand, 60 units $200 1,100 600 $1,900 15 30 Calculate the cost of goods sold and the cost of ending inventory using the FIFO, LIFO and average inventory costing method