Sheridan Company uses a periodic inventory system. For October, when the company sold 1,480 units, the following information is available. Units Unit Cost Total Cost October 1 inventory 520 $20 $10,400 October 8 purchase 1,040 21 21,840 October 25 purchase 520 24 12,480 2,080 $44,720 Compute the October 31 inventory and the October cost of goods sold using the FIFO method. Ending inventory Cost of goods sold