Inventory Costing MethodsPeriodic Method Archer Company is a retailer that uses the periodic inventory system.

August 1 Beginning inventory 80 units of Product A @ $1,600 total cost

5 Purchased 100 units of Product A @ $2,116 total cost

8 Purchased 200 units of Product A @ $4,416 total cost

11 Sold 165 units of Product A @ $4,800 total sale

Calculate the August cost of goods sold and the ending inventory at August 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar.