Help Save & Edit Mel Company uses the FIFO method to assign costs to inventory and cost of goods sold. The company uses a periodic inventory system Consider the following information Date January 1 June 2 November 5 Description Beginning inventory Prchase Salon of units 240 90 260 Cost per unit $5 What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Cot of goods sold 1210 Ending to 1350 Conte con og ry 0 Custot 200 Contorno 21 501 MacBook Pro Ser er tree URL 2 7 3 5 6 7 B 1 0 9 Q w E R . Y U I 0 P 1 A S D F G H J K ? Z X V on N M 1 * X command command option