Inventory Costing Methods and the Periodic Method Lambeth Company experienced the following events in February: Date Event Units Unit Cost Total Cost Feb. 1 Purchased inventory 100 @ $20 $2,000 Feb. 4 Sold inventory 50 Feb. 9 Purchased inventory 100 @ 22 $2,200 Feb. 27 Sold inventory 100 If the Lambeth Company uses the LIFO inventory costing method, calculate the companys cost of goods sold and ending inventory as of February 28 assuming the periodic method. Cost of goods sold $Answer Ending inventory