Mcghee Corp. 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 230 $4 June 2 Purchase 85 $3 November 5 Sales 255 What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Multiple Choice Cost of goods sold $1,095; Ending inventory $210 Cost of goods sold $1,020: Ending inventory $160 Cost of goods sold $935; Ending inventory $240 Cost of goods sold $995; Ending inventory S180 O