COLLEGE O F Management UMASS OSTON VI. Hopkins Company reported the following information related to inventory and sale Units Unit Cost $20 Beginning inventory Purchase No. 1 Purchase No. 2 1,000 7,000 2,000 23 Sales-8,000 units at $35 per unit. Compute the following amounts assuming a periodic inventory system: Inventory Costing Cost of Goods Sold Gross Margin Balance Sheet Inventory Method Wcightcd Average FIFO LIFO