In its first month of operations, Cullumber Company made three purchases of merchandise in the following sequence: 200 units at $8; 250 units at $7; and 300 units at $6. There are 420 units on hand at the end of the period, Cullumber uses a periodic inventory system (a) Calculate the cost of the ending inventory and cost of goods sold under FIFO. FIFO Ending inventory $ Cost of goods sold $ Touthaand Media