Inventory Costing Methods-Periodic Method The Luann Company uses the periodic inventory system. The following July data are for an item in Luann's inventory: July 1 Beginning inventory 30 units @ $9 per unit 10 Purchased 50 units @ $11 per unit 15 Sold 60 units 26 Purchased 25 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 $ 600 x Cost of Goods Sold: $ 545 x B. Last-in, first-out: Ending Inventory 710 x Cost of Goods Sold: $ 435 x Weighted-average cost: Ending Inventory $ 654 x Cost of Goods Sold $ 491 x