eginning inventory, purchases, and sales data for tennis rackets are as follows:

April 3	Inventory	18 units @	$17.00
11	Purchase	20 units @	$16.00
14	Sale	11 units
21	Purchase	12 units @	$19.00
25	Sale	14 units

Assuming the business maintains a perpetual inventory system, calculate the cost of goods sold and ending inventory using FIFO.

Select the correct answer.

cost of goods sold $436.00 ending inventory $418.00

cost of goods sold $854.00 ending inventory $436.00

cost of goods sold $418.00 ending inventory $436.00

cost of goods sold $418.00 ending inventory $854.00