Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods.

Do not round until your final answers. Round your final answers to the nearest dollar.

Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 850 units @ $30 per unit 12 Purchased 800 units @ $35 per unit 16 Sold 880 units @ 24 Purchased 860 units @ $36 per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar. A. First-in, First-out: Ending Inventory $ 0 Cost of Goods Sold: $ 0 B. Last-in, first-out: Ending Inventory $ 0 Cost of Goods Sold: $ 0 C. Weighted-average cost: Ending Inventory $ 0 Cost of Goods Sold $ 0