Question 1 Tries remaining Marked out of 2.00 P Hag question Inventory Costing Methods-Periodic Method Merritt Company uses the periodic inventory system. The following May data are for an item in Merritt's inventory: May 1 Beginning inventory 150 units $30 per unit 12 Purchased 100 units $35 per unit 16 Sold 180 units. 24 Purchased 170 units per unit Calculate the cost of goods sold for May and ending inventory at May 31 using (a) first-in, first-out (b) last-in, first-out, and (c) the weighted average cost methods. Do not round until your final answers. Round your final answers to the nearest dollar A First First-out. Ending inventory Cost of Goods Solid: Lastin, first-out Ending inventory Cost of Goods Sold 5 C Weighted average cost Ending in Cost of Goods Soad Save Answers