Current Attempt in Progress Sheridan Company had a beginning inventory of 125 units of Product RST at a cost of $8 per unit. During the year, purchases were: Feb. 20 May 5 630 580 units at units at $9 $10 Aug. 12 Dec. 8 440 125 units at units at $11 $12 Sheridan uses a periodic inventory system. Sales totaled 1.550 units. FIFO LIFO AVERAGE-COST The ending inventory $ $ 6340 $ $ The cost of goods sold $ 12470 $ $