Hoover Company purchased two identical inventory items. The item purchased first cost $35.50. The item purchased second cost $39.50. Then Hoover sold one of the inventory items for $65. Based on this information, the amount of: Multiple Choice ending Inventory is $39.50 if Hoover uses the LIFO cost flow method. gross margin is $27.50 i Hoover uses the weighted average cost flow method. cost of goods sold is $39.50 i Hoover uses the FIFO cost flow method. cost of goods sold is $35,50 if Hoover uses the LIFO cost flow method