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7. Arrow Company is a retailer. On August 1, it had 80 units of product A at a total cost of $1,600. On August 5, Arrow purchased 100 units of A for $2,116. On August 8 Arrow purchased 200 units of A for $4,416. At August 31 there were 210 items of product A in inventory. 1 Calculate the August cost of goods sold and the ending inventory at August 31 using FIFO, LIFO, and weighted- average. Arrow Company uses the periodic inventory system. > On August 11 Arrow sold 170 units of A for $4,800. Calculate the August cost of goods sold and the ending inventory at August 31 using FIFO and LIFO. Arrow Company uses the perpetual inventory system