Marco Company uses a periodic inventory system. Determine the cost of ending inventory at July 31 and cost of goods sold (COGS) for July under FIFO. July 1: Beginning inventory: 50 units @ $4 total cost = $200 30 units @ $4.75 July 8: Purchase: total cost = $142.5 55 units July 10: Sales: July 30: Purchase: total cost = $200 40 units@ $5 The physical inventory count on July 31 shows 65 units on hand