Periodic System-Calculating Ending Inventory and Cost of Sales using Average Cost, FIFO, and LIFO Leven Company began operations on December 1, 2019. The following information is available for the company's merchandise inventory. A physical inventory taken on March 31, 2020, showed 2,700 units available. Leven uses a periodic inventory system. Date Units Unit Cost January 1, 2020 (beginning inventory) 1,440 Purchases: January 5, 2020 2.700 10.00 January 25, 2020 2,160 10.50 February 16, 2020 1,080 12.00 March 26, 2020 1,620 $9.00 13.00 Required a. Compute ending inventory and cost of goods sold for the quarter ended March 31, 2020, using: Ending Inventory COGS 1. Average cost method. $ 8.22 x $ 22,194 X 2. FIFO method. 34,020 62,640 3. LIFO method. OX