Ayayai-Mart Centre Inc. opened for business on May 1, and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products: Purchases Sales Date Units Unit Cost Units Unit Price May 1 120 $100 3 80 $250 8 100 110 13 00 80 276 15 60 20 27 60 115 60 302 40 325 00 Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. (Round Average answers to 2 decimal places, e.g. 5.75.) FIFO Cost of Goods Sold Ending Inventory Average