Areard Corporation tracks the number of units purchased and sold throughout each accounting perlod but applies is imventory costing method at the end of esch period as if it uses a perpetual inventory system. The following are the transactions for the month of July. Required: Calculate the cost of ending inventory and cost of goods sold assuming o perpetual inventory system is used in combination with (a) FFFO and (b) LFO. Complete this qunstion by entering your answers in the tabs below. Calculate the cost of ending imventory and cost of goods sold assuming a perpetual inventory system is used in combination with UIPO