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. Unit Units Cont July 1 July 5 July 13 Beginning Inventory 2,000 $ 40 Sold 1,000 Purchased 6,000 44 July 17 July 25 July 27 Sold 3,000 Purchased Sold 8,000 5,000 50 Required: 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 131 July 251 FIFO (Perpetual) Units Cost per Unit Total $ 0