. lyasova htinued NAME Use the following inventory Information for the month of May to an 19 answer questions 16 throuph May 1 Beginning inventory 7 Purchases 18 Sales 22 Purchases 29 Sales 50 units@$20 40 units@$25 60 units 10 units @ $30 25 units ) Assu average-cost method? under the ming that a periodic inventory system is used, what is the ending inventory a. $375 b. $1,955 c. $2,125 d. $345 17) Assuming that a periodic inventory system is used, what is the cost of goods sold on a FifO basis? a. $300 b. $1,875 C. $425 d. $2,000 18) Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis? a. $300 b. $425 c. $1,875 d. $1,900