Exercise 8.7 (Algo) Costing Inventory in a Periodic System (LO 8.4) Rogers Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows. Jan. 1 Feb. 23 Apr. 20 May 4 Nov. 30 Beginning inventory Purchase Purchase Purchase Purchase Totals 12 units $3.00 $ 36.00 17 units $3.50 59.50 28 units @ $3.80 106.40 39 units $4.00 156.00 19 units 55.00 95.00 115 units 5452.90 A physical count indicates 25 units in inventory at year-end Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. Remember to use periodic inventory costing procedures ) (Round your intermediate and final answers to 2 decimal places.) Answer is complete but not entirely correct, Ending Inventory Average cost 390.00 FIFO $115.00 LIFO $78.00 c 24 tv ! 7 NO 2 9 4 UX 3 5 6 7 00 Q W E R T U