Culver Inc, uses a perpetual inventory system. Its records show the following for the month of May Tota Cost May May May May Date 1 15 18 24 Unit Cost $10 11 Explanation Inventory Purchase Sale Purchase Total Units 33 25 (47) 42 53 $330 275 12 504 $1,109 Your answer is correct Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula cost of goods sold 1 48 Endinginventory 25 (b) Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula for everose, use 9 decimal places, eg. 15.235 In your calculationes and round final owers to 2 dedmaal sloves, eg 5.25.) $ Cost of goods sold Endinginventory e Textbook and Media tot Attempts: 0 of 2 used Submit