Question 4 Partially correct Mark 0.75 out of 1.50 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 Lippere's inventory: July 1 Beginning inventory 130 units @ $8 per unit 10 Purchased 150 units @ $9 per unit 15 Sold 160 units 26 Purchased 125 units @ $10 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, Forst out Ending Inventory 5 1425 Cost of Goods Sold: 1.310 B Latein, first-out: Ending Inventory 5 1.220 N Cost of Goods Sold: 1.565 c. Weighted average cost Ending Inventory 1,348 Cost of Goods Sold S 5 1438