Inventory Costing Methods-Periodic System The following information is available concerning the inventory of Carter Inc.: Units Unit Cost 192 $9 Beginning inventory Purchases: March 5 302 10 June 12 397 11 August 23 251 12 October 2 147 14 During the year, Carter sold 1,000 units. It uses a periodic Inventory system Required: 1. Calculate ending inventory and cost of goods sold for each of the following three methods: In your calculations round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar. Cost Flow Assumption Ending Inventory Cost of Goods Sold a. Weighted average b. FIFO 3,762 10,423 7 2,698 11,487 C. LIFO