A company sells golf putters to customers, on account, at a selling price of $144 each. Assume that the company uses the FIFO inventory costing method and a perpetual inventory system. Additional information for the month is as follows: (Click the icon to view the records.) Requirement 1. What is the cost of ending inventory? The cost of ending inventory using the FIFO method is $ What is cost of goods sold for the month? The cost of goods sold using the FIFO method is $ L Requirement 2. Prepare the following two selected journal entries for the company. (Choose the explanation on the last line of the entry table.) Prepare the first of the two entries needed on the 17th: i Data Table Date Item Unit Cost $ 80 Sep. 1 Balance Quantity 19 14 50 $ 91 Sale Purchase Sale Sale 50 [Print Print Done Done