Inventory Costing Methods Periodic Method The following information is for the Toon Company for 2012, the company sells just one product: Beginning inventory Purchases Units Unit Cost Jan 1 200 Feb. 11 500 May 18 400 Oct 23 100 March July 1 400 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 Do not round until your final answers. Round your final answers to the nearest dollar. A First in first-out. Ending inventory Cost of goods sold 5 0 8. Lastin, first-out Ending Inventory Cost of goods sold 0 Weighted Averace Ending Inventory 3 0 Cost of goods sold