Computing Cost of Goods Sold and Ending Inventory Under FIFO, LIFO, and Average Cost Assume that Madden Company reports the following initial balance and subsequent purchase of inventory. \begin{tabular}{|l|l|l|r|} \hline Inventory balance at beginning of year & 1,040 & units @ \$150 each & $156,000 \\ \hline Inventory purchased during the year & 1,360 & units @ \$180 each & 244,800 \\ \hline Cost of goods available for sale during the year & 2,400 & units & $400,800 \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline & & COGS & Ending Inventory \\ \hline a. & FIFO & $ & $ \\ \hline b. & LIFO & $ & $ \\ \hline c. & Average Cost & $ & $ \\ \hline \end{tabular}