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Question 22 Answer Saved Marked out of 18.00 P Flag question Inventory Costing Methods-Periodic Method The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory July 1 Beginning inventory 35 units $13 per unit 10 Purchased 55 units @ $14 per unit 15 Sold 65 units @ 26 Purchased 30 units $15 per unit Calculate the cost of goods sold for July and ending inventory at July 31 using (a) first.in, first-out, (b) last.in, first out and (c) the weighted average cost methods, Round your final answers to the nearest dollar, A First in, First-out Ending Inventory $ 800 Cost of Goods Sold: $ 875 B. Last-in, first-out Ending Inventory $ 735 Cost of Goods Sold: $ 940 C. Weighted average cost: Ending Inventory $ 768 Cost of Goods Sold $ 907