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 Purchase 40 units at $126 Aug. 30 Purchase 20 units at $132 Dec. 12 Purchase 110 units at $136 There are 60 units of the item in the physical inventory at December 31. The periodic inve Determine the ending inventory cost and the cost of goods sold by three methods. Round i Cost of Ending Inventory and Cost of Goods Sold Inventory Method Ending Inventory First-in, first-out (FIFO) Last-in, first-out (LIFO) Weighted average cost Cost of Goods Sold