Calculate ending inv. and COGS under FIFO method.

Section B - Inventory Costing (8 Marks) Riverside Ltd. uses a perpetual inventory system and had the following activity for a single inventory item: Units Unit Cost Total Cost July 1, inventory 140 $2.50 $350 200 3.50 4.50 700 630 Purchase July 5 Purchase July 10 Purchase July 11 Purchases July 15 Sales July19 140 250 160 150 5.50 880 Instructions Using the perpetual system, determine the ending inventory and cost of goods sold under the FIFO method. Show your work