Calculator Beginning inventory, purchases, and sales data for tennis rackets are as follows: April 3 Inventory 21 units$12.00 Purchase Sale Purchase Sale 16 units $16.00 10 units 11 units @ $19.00 16 units 14 21 25 Assuming the business maintains a perpetual inventory system, calculate the cost of merchandise sold and ending inventory using FIFO Select the correct answer. Ocost of merchandise sold $385.00 ending inventory $332.00 Ocost of merchandise sold $332.00 ending inventory $385.00 cost of merchandise sold $332.00 ending inventory $717.00 Ocost of merchandise sold $717.00 ending inventory $385.00