A company began an accounting period with 100 units of an item that cost $7.50 each. During the period it purchased 400 units of the item at $9 each and it sold 390 units. In the spaces below give the costs assigned to the ending inventory and to goods sold under each of the three assumptions using periodic inventory procedures.Ending InventoryCost of Goods Sold1.The costs were assigned on a LIFO basis2.The costs were assigned on a weighted-average cost basis3.Costs were assigned on a FIFO basis