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Assume the following data with regard to inventory for Vegan Company: Aug. 1 Inventory 40 units @ $10 per unit $ 400 8 Purchase 50

Assume the following data with regard to inventory for Vegan Company:

Aug. 1 Inventory 40 units @ $10 per unit $ 400
8 Purchase 50 units @ $11 per unit 550
22 Purchase 35 units @ $12 per unit 420
Goods available for sale 125 units $1,370
Aug. 15 Sale 45 units
28 Sale 25 units
Inventory, Aug. 31 55 units

Assuming that the inventory consists of 30 units from the August 8 purchase and 25 units from the purchase of August 22, calculate the cost of ending inventory and cost of goods sold.

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