Periodic inventory by three methods; cost of goods sold The units of an item avaliable for sale during the year were as follows: Jan. 1 Inventory 40 units at $106 Mar. 10 Purchase 70 units at $114 Purchase 30 units at $120 Dec. 12 Purchase 60 units at $122 Aug. 30 There are 60 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 answers to the nearest whole dollar, w 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 (LIFO) Weighted average cost