Periodic inventory by three methods, cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 30 units at $98 Mar. 10 Purchase 70 units at $110 Aug. 30 Purchase 30 units at $114 Dec. 12 Purchase 70 units at $116 There are 30 units of the item in the physical inventory at December 31. The periode Inventory system is used Determine the ending Inventory cost and the cost of goods told by three methods. Round interim calculations to one dromul and final answers to the nearest whole dotter Cost of Ending Inventory and cost of Goods Sold Inventory Method Ending Inventory Cost of Goods Sold First-in, first-out (FIFO) Last-in, first-out (LFO) Weighted average cost