Ayayai Inc uses a periodic inventory system. Its records show the following for the month of May, in which 79 units were sold Date May 1 May 15 May 24 Explanation Inventory Purchase Purchase Total Units 31 26 42 99 Unit Cost $10 11 12 Total Cost $310 286 504 $1.100 Your answer is correct Calculate the cost of goods sold and the ending inventory at May 31 using the FIFO formula. $ 860 Cost of goods sold Ending inventory $ 240 eTextbook and Media Attempts: 1 of 15 used (b) * Your answer is incorrect. Calculate the cost of goods sold and the ending inventory at May 31 using the average cost formula. (Round average cost to 3 decimal places, eg. 5.252 and round final answer to 2 decimal places, eg 5.25.) Cost of goods sold 860 Ending inventory $ $ e Textbook and Media Save for Later Attempts: 1 of 15 used Submit