E6A-3A. (Computing amounts for various inventory methodsperiodic system) Suppose Haley Corporation's inventory records for a particular computer chip indicate the following at July 31: Jul 1 8 15 26 Beginning inventory Purchase.... Purchase... Purchase.......... 6 units @ $60 = $360 3 units @ $60 = 180 14 units @ $70 = 980 2 units @ $80 = 160 The physical count of inventory at July 31 indicates that seven units of inventory are on hand. > Requirements Compute ending inventory and cost of goods sold, using each of the following methods: 1. Specific unit cost, assuming two $60 units and five $70 units are on hand 2. Average cost (round average unit cost to the nearest cent) 3. First-in, first-out 4. Last-in, first-out