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 40 units 9 per unit 10 Purchasecd 15 Sold 26 Purchased 60 units $10 per unit 70 units @ 5 units $11 per unit Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest dollar. Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest dollar. A. First-in, First-out: Ending Inventory Cost of Goods Sold: B. Last-in, first-out: 0 Ending Inventory Cost of Goods Sold: C. Weighted-average cost: Ending Inventory Cost of Goods Sold$ DEC