ABC Appliance Shop Inc. has the following data for inventory, purchases, and sales of merchandise for December for one of the items the company sells: Activity Units Purchase Price (per Sale Price (per unit) unit) $85.00 Beginning inventory 40 Purchase 1, Dec. 4 25 88.00 Sale 1, Dec. 8 18 $150.00 Sale 2, Dec. 10 $110.00 Purchase 2, Dec. 17 15 92 Sale 3, Dec. 20 17 $140 ABC Appliance Shop Inc. uses a perpetual inventory system. All purchases and sales were for cash. Required: Compute cost of goods sold and ending inventory under the FIFO method for December. a. Cost of goods sold under the FIFO =$ b. Cost of ending inventory using the FIFO =$