Jolly Gyms Inc. uses a periodic inventory system and had the following activity for a single inventory item: Units Unit Cost Total Cost April 1, inventory 500 $2.50 $1,250 Purchases: 250 3.50 875 175 4.50 787.50 April 5 April 10 April 15 Sales: 100 5.50 550 550 April 11 April 19 375 Instructions Determine the ending inventory and cost of goods sold using a FIFO b) Weighted average (round unit cost to nearest cent)