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 $104 Mar. 101 Purchase Avg. 301 50 units at $116 Purchase 10 units at $122 Dec. 12 Purchase 110 units of $120 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 doilar Cost of Ending Inventory and Cost of Goods Sold Inventory Method Fint-in, first-out (FIFO) Last in, first-out (IPO) weighted average co Ending Inventory Cost of Goods Sold 0000 Check My Work 3 mon Check My Won uses remaining Previous Next