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 $116 Mar. 10 Aug. 30. Purchase 40 units at $124 Purchase 30 units at $132 Dec. 12 Purchase 100 units at $136 There are 40 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. Round interim calculations to one decimal and final answers to the nearest whole dollar. Inventory Method Cost of Ending Inventory and Cost of Goods Sold Ending Inventory Cost of Goods Sold First-in, first-out (FIFO) 5,440 20,560 Last-in, first-out (LIFO) 1 X 19,040 X Weighted average cost 5,200 20,800 Feedback Check My Work