eBook Show Me How Calculator Print Item Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1Inventory Mar. 10 Purchase Aug. 30Purchase Dec. 12 Purchase There are 60 units of the item in the physical inventory at December 31. The periodic inventory system is us Determine the ending inventory cost and the cost of goods sold by three methods. Round interim calculation the nearest whole dollar. 40 units at $126 50 units at $136 20 units at $142 90 units at $144 Cost of Ending Inventory and Cost of Goods Sold Inventory Method First-in, first-out (FIFO) Last-in, first-out (LIFO) Ending Inventory Cost of Goods Sold Weighted average cost