Cobra Kai Company calculated Cost of Goods Sold and Ending Inventory under both the First-in-first-out (FIFO) inventory costing method and the Last-in-first-out (LIFO) inventory costing method. Under the First-in-first-out (FIFO) inventory costing method, Cost of Goods Sold is $500,000 and Ending Inventory is $50,000. . Under the last-in-first-out (LIFO) inventory costing method, Cost of Goods Sold is $400,000 and Ending Inventory is $150,000. During the period, which of the following is true? Select one: O Prices of purchases over the period were declining O Prices of purchases over the period remained the same O Prices of purchases over the period were rising 4 of That's Right Company had the following beginning inventory and purchases of inventory in the current accounting period: Beginning inventory: 200 units at $5.00 per unit = $1,000 Day 10 purchase: 200 units at $6.00 per unit = $1,200 Day 15 purchase: 200 units at $6.30 per unit = $1,260 Day 28 purchase on June 28: 150 units at $6.60 per unit = $990 During June, the business sold 450 units, leaving 300 units on hand. Using the First-in-first-out (FIFO) inventory method, the amount reported for Cost of Goods Sold at the end of the period is