Inventory by Three Methods; Cost of Goods Sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 20 units at $1,800 May 15 Purchase 27 units at $1,950 Aug. 7 Purchase 14 units at $2,040 Nov. 20 Purchase 17 units at $2,100 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: Round your final answers to the nearest dollar. Inventory Method a. First-in, first-out method b. Last-in, first-out method Cost Ending Inventory Cost of Goods Sold c. Weighted average cost method 35,287