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Awww-awu.aleks.com E O MERCHANDISING AND INVENTORY Use of periodic inventory system for merchandise inventory... V Peterson Company had the following information for the year: Units Unit Cost Total Beginning Inventory 25 $3 $75 Purchases: March 3 25 6 150 June 15 20 10 200 September 28 45 11 495 Cost of Goods Available for Sale $920 On December 31, Peterson Company had 70 units in its ending inventory. The company uses the periodic inventory system to compute ending inventory an cost of goods sold. Required: Using LIFO: (a) Compute the cost of ending inventory. (b) Compute the cost of goods sold. Cost of ending inventory Cost of goods sold $0 X