58 QUI Using the following information calculate the ending Inventory balance and the cost of goods sold expense that would be reported at the end of the year o Inventory valuation method is used. 2 Units Beginning inventory Purchase Purchase 2 Purchase 3 Sales Purchase Price 50 $ 7.99 140 5 8.99 240 $ 11.99 120 $ 12.99 400 COGS Ending Balance 12 Using the information from Question 11, calculate the ending inventory balance and cost of goods sold expense that would be reported at the end of the IF LIFO inventory valuation method is used. COGS Ending Balance