E6.7B. Inventory Costing Methods Periodic Method The Toon Company, which uses the periodic in- LO2 ventory system, has the following records: Units Unit Cost $49 42 Purchases: Jan. 6. .. 650 July 15 Dec. 28. 6 . .200 Ending inventory was 360 units. Compute the ending inventory and the cost of goods sold for the year using (a) first-in, first out, (b) weighted-average cost, and (c) last-in, first-out. L02 E68B. Inventory Costing Methods Periodic Method The following data are for the Miller Corporation. which sells just one product: Units Unit Cost Beginning inventory, January 1 Purchases February 11 200 $12 13 15 17 100 March 1 July 1 Sales Calculate the value of ending inventory and cost of goods sold using the periodic method and (a) first- in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Round your final answers to the nearest dollar