Torrey Company uses the periodic inventory system to account for inventories. Information related to Torrey Company's inventory at October 31 is given below: October 1 $4,000 Beginning inventory 400 units @ $10.00 Purchase 8 8,320 800 units @ $10.40 16 Purchase 6,480 600 units $10.80 24 Purchase 200 units @ $11.60 = 2,320 $21.120 Total units and cost 2,000 units Value the ending inventory using the FIFO cost assumption if 500 units remain on hand at October 31 Ending Inventory Purchase ZU UNS 11OU $21,120 Total units and cost 2,000 units Value the ending inventory using the FIFO cost assumption if 500 units remain on hand at October 31 Ending Inventory Value the ending inventory using the average-cost method if 500 units remain on hand at October 31. Ending Inventory $