Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cost Wong Corporation reports the following beginning inventory and inventory purchases. Inventory balance at beginning of year 720 units @ $12 each $8,640 Inventory purchased during the year 1,260 units @ $14 each $17,640 Cost of goods available for sale during the year 1,980 units $26,280 Wong sells 1080 of its inventory units during the year. Compute the cost of goods sold for the year and the inventory on the yearend balance sheet under the following inventory costing methods. Note: Do not round until your final answer. Note: Round your final answers to the nearest whole dollar. COGS Ending Inventory a. FIFO Answer 13,680 Answer 0 b. LIFO Answer 15,120 Answer 0 c. Ave