Inventory Costing Methods The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory: July 1 Beginning inventory 30 units @ 10 Purchased 50 units @ $8 per unit. $9 per unit. 15 Sold 60 units @ 26 Purchased 25 units @ $10 per unit. Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods. Round your final answers to the nearest dollar. Cost of goods sold Ending inventory a. FIFO $ $ b. LIFO $ $ C. Weighted average $ $