Use the following information to answer the questions below. Beginning Inventory Purchase-May. Purchase-July 100 units @ $4.00 200 units @ $3.00 100 units @ $6.00 - A periodic inventory system is used; ending inventory is 150 units. 13. What is ending inventory under the average-cost method?! [A] $150 [B] $1,000 [C] $250 14. What is cost of goods sold under LIFO? [A] $550 [B] $1,050 [C] $750 15. What is ending inventory under FIFO? [A] $550 [B] $750 [C] $850