ienylarejiauhen.jspacourse assessment ild-398328 1&coTCQ Search A company had the following purchases and sales during its first year of operations: 6 units 5 units January February Mayt 10 units at $120 20 units at $125 15 units at $130 12 units at $135 10 units at $140 9 units 8 units 13 units November On December 31, there were 26 units remaining in ending inventory. Using the Periodic LIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.) O $3,405. $3,270 $3,200 O $3,364. O $5,400. QUESTION 12 4 points Save Answe The reasoning behind the retail inventory method is that if we can get a good estimate of the cost-to-retail ratio, we can multiply ending inventory at retail by this ratio to estimate ending inventory at cost. True False