Periodic System Calculating Ending Inventory and Cost of Sales using Average Cost The following information is available for Water Inc. Date Units Unit Cost January 1, 2020 (beginning inventory) 140 $50.00 Purchases: January 10, 2020 105 52.00 210 52.50 140 55.00 January 15, 2020 January 30, 2020 The company maintains a periodic inventory system. A physical inventory count shows 175 units in stock on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the average cost method? Round unit cost used in your calculation to two digits after the decimal. (For example, use a rate of $1.42 for $1.424 or use a rate of $1.43 for $1.425.) Round final answers to the nearest whole dollar. a. Ending inventory on January 31 $ b. Cost of goods sold for January