Question 26 (2 points) AAA Co. uses a periodic inventory system and has the following information in regard to its inventory: Beginning inventory 200 units @ $15 $ 3,000 Purchase on January 25 300 units @ $16 4,800 Purchase on March 15 200 units @ $17 3,400 Purchase on October 2 400 units @ $18 7,200 Goods available for sale $18,400 There are 500 units in ending inventory. What is the amount of the ending inventory using the FIFO method? $ 8,900 $ 7,800 $ 3,000 O$ 7,200 M 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 Purchase Sales # of units 100 75 125 Cost per unit $ 5 $4 What amounts would be reported as the cost of goods sold and ending inventory balances for the year? Cost of goods sold $550; Ending inventory $250 Cost of goods sold $625; Ending inventory $175 Cost of goods sold $600; Ending inventory $200 Cost of goods sold $755; Ending inventory $225