Problem 1: Syncophant Company uses a periodic inventory system for its merchandise. The following information pertains to its May, 2019 inventory: Beginning Inventory: 48 units @ $34 each 1st Purchase: 60 units @ $35 each 2nd Purchase 55 units @ $36 each 3rd Purchase 52 units @ $37 each At the end of May there were 58 units remaining in Syncophant's inventory Calculate the ending inventory as well as the cost of goods sold under the following methods: b) c) FIFO LIFO Weighted Average