Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory May 1 Beginning inventory 150 units $30 per unit 12 Purchased 100 units $35 per unit 16 Sold 180 units 24 Purchased 160 units s $36 per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods. Round your final answers to se nearest dollar A First-in, First out Ending inventory Cost of Goods Sold $ 0 D B. Last-in, first-out Ending inventory $ Cost of Goods Sold $ D C Weighted-average cost Ending ventory $ Cost of Goods Sold 0