Inventory Costing Methods-Periodic Method The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory: July 1 Beginning inventory 60 units @ $11 per unit 10 Purchased 80 units @ $12 per unit 15 Sold 90 units @ 26 Purchased 55 units @ $13 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. A. First-in, First-out: Ending Inventory $ 0 Cost of Goods Sold: $ 0 B. Last-in, first-out: Ending Inventory $ 0 Cost of Goods Sold: C. Weighted-average cost: Ending Inventory $ 0 Cost of Goods Sold $ 0 $ 0