Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: 21 units at $1,800 Jan. 1 Inventory Purchase 29 units at $1,950 May 15 10 units at $2,040 Purchase Aug. 7 15 units at $2,100 Purchase Nov. 20 There are 18 units of the item in the physical inventory at December 31. Determine the cost of ending inventory and the cost of goods sold by three methods, presenting your answers in the following form Cost Cost of Goods Sold Ending Inventory Inventory Method 2,712 a. First-in, first-out method $ b. Last-in, first-out method $ 1,893.6 X $ 1,893.6 Weighted average cost method C. Feedback Check My Work a. In the FIFO method, the first units purchased are assumed to be the first to be sold. Therefore, ending inventory costs ar