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 Units Unit Cost July 1 July 51 July 13 Beginning Inventory 3,000 $ 50 Sold 1,500 Purchased 7,000 54 July 17 Sold 4,000 July 25 July 27 Purchased Sold 9,000 60 6,000 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. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with FIFO. Beginning Inventory. Purchases July 13 FIFO (Perpetual) Units Cost per Unit Total $ July 25 Total Purchases 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 Ending Inventory 0 Required & Required B 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 Units Unit Cost Beginning Inventory 3,000 $ 50 July 5 Sold 1,500 July 13 July 17 Purchased Sold 7,000 54 4,000 July 25 July 27 Purchased Sold 9,000 60 6,000 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. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with LIFO. Beginning Inventory, Purchases July 131 LIFO (Perpetual) Units Cost per Unit Total $ 0 July 25 Total Purchases 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 Ending Inventory 0 0