Chapter 8 4 marks In chronological order, the inventory, purchases, and sales of a single product for a recent month are as follows: Units Cost per unit June 1 Beginning Inventory 150 $30 4. Purchase 400 33 12 Purchase 800 36 16 Sales 1,300 60 (Selling price) 24 Purchase 300 39 Using the periodic inventory system, compute the cost of ending inventory, cost of goods sold, and gross margin. Use the average-cost method I FIFO inventory costing method LIFO inventory costing method Round unit costs to cents and total to dollars