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 # of units 190 Date January 1 June 2 November 5 Description Beginning inventory Purchase Sales Cost per unit $6 $5 80 200 What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Multiple Choice Cost of goods sold $1,250, Ending inventory $385 Cost of goods sold $1,200, Ending inventory $130 Cost of goods sold $1,120Ending inventory $420 Cost of goods sold $1,190; Ending inventory $350