Blossom Company uses a perpetual inventory system and reports the following inventory transactions for the month of July Units Unit Cost Total Cost July 1 Inventory 150 $13.00 $1950.00 12 Purchases 230 14.25 3277.50 20 Sale (250) 28 Purchases 490 17.00 8.330.00 Calculate the cost of goods sold and ending inventory under (1) FIFO and (2) weighted average. (Round the weighted average cost per unit to two decimal places, eg.5.27 and final answers to 2 decimal places, es. 5,275.75 FIFO Cost of goods sold Ending inventory eTextbook and Media Which cost formula gives the higher ending inventory? cost formula gives the higt eTextbook and Media Which cost formula results in the higher cost of goods sold? cost formula results in the Which cost formula gives the higher ending inventory? Cost formula gives the higher ending inventory eTextbook and Media Which cost formula results in the higher cost of goods sold? ost formula results in the higher cost of goods sold