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Aircard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period as if it uses a perpetual inventory system. The following are the transactions for the month of July. Unit Units Cost Beginning July 1 2,200 $42 Inventory July 5 Sold 1,100 July 13 Purchased 6,200 46 July 17 Sold 3,200 July 25 Purchased 8,200 52 July 27 Sold 5,200 Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with (a) FIFO and (b) LIFO. (a) FIFO % Answer is not complete. FIFO (Perpetual) Cost Units Total per Unit $ 42.00 2,200 Beginning Inventory Purchases $92,400 work 70 Seved Check my work mode: This shows what is correct or incorrect for the work you have Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with (a) FIFO and (b) LIFO. (a) FIFO Answer is not complete. FIFO (Perpetual) Units Total Cost per Unit $ 42.00 2,200 $ 92,400 6,200 8,200 $ 46.00 $ 52.00 711,600 804,000 Beginning Inventory Purchases July 13 July 25 Total Purchases Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units from July 13 Purchase Units from July 25 Purchase Total Cost of Goods Sold Ending Inventory $ 42.00 2,200 5,100 92,400 (b)LIFO