View Policies Current Attempt in Progress Concord Co. uses a periodic inventory system. Its records show the following for the month of May, in which 72 units were sold. Unit Cost Total Cost Units May 1 Inventory $407 15 Purchases - 350 24 Purchases 480 9 Totals 94 $1,237 Compute the ending Inventory at May 31 and cost of goods sold using the FIFO and LIFO methods FIFO Ending inventory at May 31 $ Cost of goods sold