Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a perpetual inventory system. The following are the transactions for the month of July. July 1 July 5 July 13 July 17 July 25 July 27 Beginning Inventory Sold Purchased Sold Purchased Sold Units Unit Cost 2,700 $47 1,350 6,700 51 3,700 8,700 57 5,700 Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with (a) FIFO and (b) LIFO. Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with FIFO. FIFO (Perpetual) Cost per Units Total Unit Beginning Inventory $ 0 Purchases July 13 July 25 Total Purchases 0 Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units from July 13 Purchase Units from July 25 Purchase Total Cost of Goods Sold 0 Ending Inventory