Jan. 1 Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Inventory 50 units at $94 Mar. 10 Purchase So units at $106 Aug. 30 Purchase 30 units at $114 Dec 12 Purchase 70 units at $120 There are 80 units of the item in the physical inventory at December 31. The periodic inventory system is used Determine the ending inventory cout and the cost of goods sold by the methods. Round interim calculations to one decimal and final answers to the nearest whole dollar Cost of Ending Inventory and cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold First in first-out (FIFO) Last: in first-out (LIFO) Weighted average cost