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: Date January 1 June 2 November 5 Description # of units Cost per unit Beginning inventory 260 $ 4 Purchase 70 $ 3 Sales 270 What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Multiple Choice Cost of goods sold $1,010, Ending inventory $240 Cost of goods sold $1110; Ending inventory $210 Cost of goods sold $1,080: Ending inventory $100