Concord Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Unit Date Explanation Units Cost/Price Total Cost June 1 Beginning inventory 1,390 $6 $8,340 12 Purchases 2,520 7 17,640 15 Sale (2,550) 12 16 Purchases 4,630 8 37.040 23 Purchases 1,370 9 12,330 27 Sales (5,890) 15 Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, e.g. 1.25.) FIFO Cost of goods sold $ Cost of ending inventory $ Average $