Calculate the cost of goods sold and ending inventory using the average cost method.

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