Maxell Company uses the FIFO method to assign costs to inventory and cost of goods sold. They began the period with 150 units in their inventory. Each of those units was purchased for $5. In June, Maxell purchased 85 units for $4 each. On November 5th, the firm sold 165 units for $7.50. What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Cost of goods sold $825; Ending inventory $145 Cost of goods sold $885; Ending inventory $315 Cost of goods sold $740; Ending inventory $350 Cost of goods sold $810; Ending inventory $280 None of the above