Culver Inc. uses a perpetual inventory system. Itsrecords show the following for the month of May. Date May 1 May 15 May 18 May 24 Unit Cost $10 11 Total Cost $330 275 Explanation Inventory Purchase Sale Purchase Total Units 33 25 (47) 42 53 12 504 $1,109 Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula Cost of goods sold $ Ending Inventory $