Blue Ltd. reports the following inventory transactions in a periodic inventory system for the month of June. A physical inventory count determined that 1,530 units were on hand at the end of the month. Date June 1 12 16 23 Explanation Beginning inventory Purchases Purchases Purchases Ending inventory Cost of goods sold Units $ 1,380 2,460 4,170 1,430 Units Cost FIFO $5 6 7 8 Total Cost $6,900 Determine the cost of the ending inventory and cost of goods sold using (1) FIFO and (2) average cost. (Round FIFO answers to O decimal places, e.g. 5,275 and Average cost answers to 2 decimal places, e.g. 5,275.25.) 14,760 29,190 11,440 Average Cost

Blue Ltd. reports the following inventory transactions in a periodic inventory system for the month of June. A physical inventory count determined that 1.530 units were on hand at the end of the month. Determine the cost of the ending inventory and cost of goods sold using (1) FIFO and (2) average cost. (Round FIFO answers to 0 decimal places, es. 5,275 and Average cost answers to 2 decimal places, es. 5,275.25.)