Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO and (2) LIFO. FIFO LIFO Ending inventory $ 420 300 Cost of goods sold 5.930 2050 (b) * Your answer is incorrect. Compute the cost of the ending inventory and the cost of goods sold using the average-cost method (Round per unit cost calculations to 2 decimal places, e.g. 5.25 and final answers to decimal places, e.g. 125.) Ending inventory $ 360 Cost of goods sold $ 5990 Blossom Company reports the following for the month of June. Unit Units Cost Total Cost June 1 Inventory 200 $5.00 $1,000 12 Purchase 250 6.00 1,500 23 Purchase 550 7.00 3,850 30 Inventory 60