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Bramble Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date Explanation Units Unit Cost/Price Total

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Bramble Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date Explanation Units Unit Cost/Price Total Cost June 1 Beginning inventory 1,510 $6 $9,060 12 Purchases 2,520 17,640 15 Sale (2,540) 12 16 Purchases 4,320 8 34,560 23 27 Purchases 1,490 9 13,410 Sales (5,710) 15 Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, e.g. 1.25.) Cost of goods sold Cost of ending inventory $ FIFO Average $

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