Cullumber Company uses a perpetual inventory system. The company began 2024 with 800 iamps in inventory at a cost of $12 per unit. During 2024, Cullumber had the following purchases and sales of lamps: All purchases and sales are on account. Current Attempt in Progress On May 1, Cullumber Company had 400 units of inventory on hand, at a cost of $4.00 each. The company uses a perpetual inventory system. All purchases and sales are on account. A record of inventory transactions for the month of May for the company is as follows: Calculate the cost of goods sold and ending inventory using FIFO