on may 1, beginning inventory consists of 10 items at a cost of $10 each. on may 3, 10 items are purchased at $12 each. on may 8, 12 items are sold. on may 15, 10 items are purchased at $14 each. will cost of goods sold be higher using a fifo periodic inventory system or fifo perpetual inventory system? multiple choice question. the perpetual inventory system the periodic inventory system cost of goods sold will be the same