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	Description	# of units	Cost per unit
January 1	Beginning inventory	290	$4
June 2	Purchase	80	$3
November 5	Sales	310

What amounts would be reported as the cost of goods sold and ending inventory balances for the year?

Cost of goods sold $1,240; Ending inventory $140

Cost of goods sold $1,300; Ending inventory $210

Cost of goods sold $1,160; Ending inventory $240

Cost of goods sold $1,220; Ending inventory $180