Beginning Inventory and Purchases Purchased Units Unit Cost Total Cost Beginning Inventory 50 $20 $1,000 November 70 $24 $1,680 December 60 $26 $1,560 January 80 $25 $2,000 Units Available for Sale 260 $6,240 Ending Inventory Units on Hand 80 Cost of Units on Hand $ Units Sold in February 180 Cost of Goods Sold $4,520 Which inventory method was used to calculate cost of goods sold, based on the information above? LIFO FIFO Weighted average Specific ID