apler / MC Qu. 7-63 Maxell Company uses the FIFO method to... Maxell 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: Cost per unit # of units 290 Date January 1 June 2 November 5 Description Beginning inventory Purchase Sales 310 What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Multiple Choice Cort of goods sold $1.240: Ending inventory $140 web and Windows 9 acer