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 240 $ 5 June 2 Purchase 90 $ 4 November 5 Sales 260 What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Group of answer choices Cost of goods sold $1,210; Ending inventory $350 Cost of goods sold $1,300; Ending