#3 Powder Inc. sells an Xpert snowboard that is popular with snowboard enthusiasts. The following information shows Powder's purchases and sales of Xpert snowboards during November: Question: Date Explanation Units Unit Cost/Price Nov. 1 Beginning inventory 30 $295 5 Purchases 25 300 12 Sales (42) 460 19 Purchases 40 305 22 Sales (50) 470 25 Purchases 30 310 33 Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Powder uses a perpetual inventory system. (For average cost, use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your answer.)