Periodic inventory by three methodst cost of goods sold The units of an item available for sale during the year were as followst There are 80 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 methodo, hound interim calculations to one decimal and final answers to the nearnst whole dollaf. Feeltext 7 Crect My Wart Note that this exercise uses the periodic inventory system. FIFo means that the first units purchased are assumed to be the first to be sold. Therefore, ending inventory con shysical inventory times the most recent purchase price. If the number of items in last purchase layer is less than the number in ending inventory, the balance of the endin