DF (Click the icon to view the records.) Read the requirements. method. Then identify the cost of ending inventory and cost of goods sold for the month, Start by entering the beginning inventory balances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of inventory purchased, sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) Purchases Cost of Goods Sold Inventory on Hand Unit Total Unit Total Unit Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost Jun. 1 20 S 70 S 1.400 16 $ 4 $ 70 $ 1,120 Jun. 6 70 $ 280 30 $ 4 $ 87 $ 2,610 70 $ Jun. 8 280 30 S 87 $ 2,610 70 S 4 $ 280 4 $ 87 S 348 Jun. 17 26 87 2,262 2 $ 87 $ 174 2 $ 87 S 174 Jun 30 $ 174 $ 3,836 $ 2.610 48 Totals 30 $ 174 Identify the cost of ending inventory for the month. The cost of ending inventory using the FIFO method is Identify the cost of goods sold for the month, The cost of goods sold using the FIFO method is