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 850 units @ $30 per unit 12 Purchased 800 units @ $35 per unit 16 Sold 880 units @ 24 Purchased 860 units @ $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. Do not round until your final answers. Round your final answers to the nearest dollar. $ 0 A. First-in, First-out: Ending Inventory Cost of Goods Sold: B. Last-in, first-out: $ 0 $ 0 $ 0 Ending Inventory Cost of Goods Sold: C. Weighted-average cost: Ending Inventory Cost of Goods Sold $ 0 $ 0