Bridgeport Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations:

> Open Assignment IT RESOURCES nment #3 - Question 2 Bridgeport Limited uses a perpetual inventory system. The inventory records show the following data for its first Date Explanation Units Unit Cost Total Cost Balance in Units Aug. 2 Purchases 245 $72 $17,640 245 3 Purchases 502 100 50,200 747 10 Sales (274) 473 15 Purchases 928 115 106,720 1,401 25 Sales (327) 1, 074 pre sults by Study Your answer is correct. Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold 53240 Ending inventory $ 121320