Units April 1, inventory 500 Jolly Gyms Inc. uses a periodic inventory system and had the following activity for a single inventory item: Unit Cost $2.50 Total Cost $1,250 Purchases: April 5 250 3.50 875 April 10 175 4.50 787.50 April 15 100 5.50 550 Sales: April 11 550 April 19 375 Instructions Determine the ending inventory and cost of goods sold using: a) FIFO b) Weighted-average (round unit cost to nearest cent) . A B I