Print Item Inventory Costing Methods Morrison Inc. reported the following information for the month of August: Inventory, August 1 61 units @ $20 Purchase: August 7 47 units @ $22 August 18 61 units @ $24 August 27 47 units @ $26 During August, Morrison sold 135 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for August under the following assumptions. Assumption Cost of Goods Sold Ending Inventory