Concord Inc. uses a perpetual inventory system. Its records show the following for the month of May. Date Explanation Unit Cost Units Total Cost $288 May 1 Inventory 32 $9 May 15 Purchase 27 10 270 May 18 Sale (47) May 24 Purchase 40 11 440 Total 52 $998 Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, e.g. 15.235 in your calculations and round final answers to 2 decimal places, eg 5.25.) Cost of goods sold $ Ending Inventory $