X eBook Show Me How Periodic inventory by three methods; cost of goods sold The units of an item available for sale during the year were as follows: Jan. 1 Inventory 180 units at $108 Mar. 10 Purchase 224 units at $110 Aug. 30 Purchase 200 units at $116 Purchase 196 units at $120 Dec. 12 There are 208 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the ending inventory cost and the cost of goods sold by three methods. Cost of Inventory and Cost of Goods Sold < Inventory Method Ending Inventory First-in, first-out (FIFO) Last-in, first-out (LIFO) Weighted average cost Cost of Goods Sold Check My Work 1 more Check My Work uses remaining. Previous Next =>