Inventory Costing Methods Carrington Inc. reported the following information for the month of August: Inventory, August 1 56 units @ $18 Purchase: 50 units @ $19 August 7 August 18 66 units @ $21 August 27 42 units @ $22 During August, Carrington sold 136 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for August under the following assumptions. Assumption Cost of Goods Sold Ending Inventory 1. Of the 136 units sold, 47 cost $18, 35 cost $19, 50 cost $21, and 4 cost $22. 2. FIFO $ 3. LIFO $ 4. Weighted average method (Round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar.) $