2 of 6 < > View Policies -/20 Current Attempt in Progress On May 1, Cullumber Company had 430 units of inventory on hand, at a cost of $4.00 each. The company uses a perpetual inventory system. All purchases and sales are on account. A record of inventory transactions for the month of May for the company is as follows: Purchases Sales May 4 1,300 @ $4.10 May 3 260 @ $7.00 14 780 @ $4.30 16 1,100 @ $7.00 29 400 @ $4.70 18 370 $7.50 Calculate the cost of goods sold and ending inventory using FIFO. FICO Activate Wind Go to Settings to