Inventory by Three Methods; Cast of Goods Sold The units of an item evaable for sale during the year w Jan 1 Mar 18 Inventory Purchase 50 units at $106 Aug 30 Purchase Purchase Dec. 12 There are 80 units of the tem in the seal try at December 31, The periodic inventory system Determine the ending inventory cost and the cost of goods sold by three methods. In your calculations round average unit cast the nearest cent, and round all other calculations and your final answers to the net dilar Cost of Ending Inventory and Cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold First-in, first-out (FIFO) Last, first-out (ro)