Inventory Costing Methods-Perlodic Method Merritt Compary uses the periodic inventcy Jystem. The following May data are for an item in Mernitt's inventory; Calculate the cost of goods sold for May and end nog inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Do not round until your final answers, Round your final answers to the nearest dollar: Inventory Costing Methods-Periodic Method Mecritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: Caiculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted-average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar