Maxell Company uses the FIFO method to assign costs to inventory and cost of goods sold. The company uses a periodic inventory system. Consider the following information: What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Cost of goods sold $1,020; Ending inventory $140 Cost of goods sold $1,070; Ending inventory $440 Cost of goods sold $930; Ending inventory $480 Cost of goods sold $1,010; Ending inventory $400