QUESTION 1 Incorrect Mark 0.00 out of 300 P Flag question Inventory Costing Methods-Periodic Method The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory: July 1 Beginning inventory 35 units@ $13 per unit 10 Purchased 15 Sold 26 Purchased 55 units@ $14 per unit 65 units @ 30 units @ $15 per unit Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-out, (b) last- in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest dollar. A. First-in, First-out: 685 X Ending inventory- Cost of Goods Sold: B. Last-in, first-out: unding menury Cost of Goods Sold Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first-in, first-out, (b) last- in, first-out, and (c) the weighted-average cost methods. Round your final answers to the nearest dollar. A. First-in, First-out: Ending Inventory685 x Cost of Goods Sold: S B. Last-in, first-out: Ending Inventory 0 20 Cost of Goods Sold: S C. weighted average cost Ending Inventory Cost of Goods Sold Check