4 of 4 < > View Policies -16 E Current Attempt in Progress Sheffield Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date Explanation Units Unit Cost/Price Total Cost June 1 Beginning inventory 1,550 $4 $6,200 12 Purchases 2,170 5 10,850 15 Sale (2,330) 12 16 Purchases 4,920 6. 29,520 23 Purchases 1,380 7 9,660 27 Sales (6,210) 15 (a) Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, e.g. 1.25.) (a) Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, e.g. 1.25.) FIFO Average 47463 Cost of goods sold 45970 Cost of ending inventory $ 10260 8766.61 eTextbook and Media Save for Later Last saved 1 day ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes. Attempts: 0 of 1 used Submit