Brighton Blues, Inc. sells denim bluejeans to their fashion conscience customers. The following data reveals the inventory, purchases, and sales data for the month of August. Inventory August 1 300 units @ 4.00 Purchases: 600 units @ 4.25 August 3 August 18 August 31 500 units @ 4.50 400 units @ 5.00 Sales: 550 units August 9 August 28 550 units Under a periodic inventory system, determine the cost of inventory on hand at August 31 and the cost of goods sold for August under (a) FIFO, (b) LIFO. (c) Average Costing. For average cost, round to 3 decimal places. Prove Ending Inventory balances and Prove Cost of Goods Sold for all 3 methods