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another one Maxeil Company uses the FIFO method to assign costs to inventory and cost of goods sold. The company uses a periodic inventory system.

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Maxeil Company uses the FIFO method to assign costs to inventory and cost of goods sold. The company uses a periodic inventory system. Consider the following information: What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Multiple Cholce Cost of goods sold \$960: Ending inventory $190 Cost of goods sold $1080; Ending inventory $105 Cost of goods sold $890, Ending inventory $120 Cost of goods sold $920; Ending inventory 590

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