Saved Help 5 5 MC Qu. 7-63 Maxell Company uses the FIFO method to... Maxell Company uses the FIFO method to assign costs to inventory and cost of goods sold. The company uses a periodic inventory system. Consider the following information Date January 1 June 2 November 5 Description Beginning inventory Purchase Sales # of units 160 90 Cost per unit $6 $5 00:52:46 170 What amounts would be reported as the cost of goods sold and ending Inventory balances for the year? Multiple Choice O Cost of goods sold $1020: Ending Inventory $140 Cost of goods sold $1070: Ending inventory S440 Cornie Cole Can Finninn 5 of 9 Next >