Concord-Mart Centre Inc. opened for business on May 1, and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products: Purchases Sales Date Units Unit Cost Units Unit Price May 1 120 $100 3 80 $252 8 100 110 13 80 279 15 60 114 22 20 60 27 40 88 305 329 (a) Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. (Round Average answers to 2 decimal places, e.g. 5.75.) FIFO Cost of Goods Sold $ Ending Inventory A $ GA $ SA $ Average