canbe CH6 - HW1 X *[Solved] Inventory Costing Methe X + X -> C mybusinesscourse.com/platform/mod/quiz/attempt.php?attempt=5563953&cmid=317104 * L BusinessCourse Return to course @Support My Subscriptions 9 Lauren Hassen Question 1 Partially correct Mark 0.33 out of 1.00 Flag question 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 150 units @ $30 per unit 12 Purchased 100 units @ $35 per unit 16 Sold 180 units. 24 Purchased 170 units @ $40 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 $ 7,650 x Cost of Goods Sold: $ 7,150 x B. Last-in, first-out Ending Inventory $ 7,650 Cost of Goods Sold: $ 7,150 C. Weighted-average cost: Ending Inventory $ 0x Cost of Goods Sold $ 0 x Check Partially correct Marks for this submission: 0.33/1.00. Type here to search 99%) 4 75OF Clear x 0 8:02 PM 10/10/2021