A company has the following inventory information and uses the periodic system: May 1 May 4 May 7 Purchase Sale Beginning Inventory 18 units at $3 each 11 units at $4 each 24 units The company uses the weighted average method of inventory costing. What is the cost of goods sold and the ending merchandise inventory? - A. COGS $97.92; Merchandise Inventory $20.40 B. COGS $16.90; Merchandise Inventory $81.12 C. COGS $20.40; Merchandise Inventory $97.92 D. COGS $81.12; Merchandise Inventory $16.90