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 47 units 180 perunt 10 Purchased 67 units $50 per unit 26 15 Sold Purchased 77 units 42 units $100 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 Festin First-out Ending Inventory Cost of Goods Sold 4.200 3,760x Last-in, first-out Ending Inventory 700 x Cost of Goods Sold $ 500 x C Weighted average cost Ending inventory 7.581.45 x Cost of Goods Sold $ 7404.55