Moghee Corp. uses the FIFO method to assign costs to Inventory and cost of goods sold. The company uses a perlodic Inventory system. Consider the following information: Date Description # of units Cost per unit January 1 Beginning inventory 220 $6 June 2 Purchase 80 SS November 5 Sales 250 What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Multiple Choice Cost of goods sold $1,500; Ending inventory $230 O Cost of goods sold $1,650, Ending inventory $275 Cost of goods sold $1,420; Ending Inventory $300 O O O Cost of goods sold $1.470; Ending inventory $250