Inventory Costing Methods Carrington Inc. reported the following information for the month of February: February 1 Inventory 59 units @ $18 February 7 54 units @ $19 Purchase February 18 Purchase 60 units @ $21 February 27 Purchase 39 units @ $22 During February, Carrington sold 137 units. The company uses a periodic inventory system. Required: What is the value of ending inventory and cost of goods sold for February under the following assumptions. Assumption Cost of Goods Sold Ending Inventory Of the 137 units sold, 50 cost $18, 38 cost $19, 45 cost $21, and 4 cost $22. $4 2. FIFO 24 3. LIFO %24 24 4. Weighted average method (Round average unit cost to the nearest cent, and round all other calculations and your final answers to the nearest dollar.) %24