Everyday Wear Retail had the following balances and transactions during 2018. Beginning Inventory 15 units at $72 June 10 Purchased 30 units at $85 December 30 Sold 20 units December 31 Replacement cost $67 The company maintains its records of inventory on a perpetual basis using the first-in, first-out inventory costing method. Calculate the amount of ending Merchandise Inventory and cost of goods sold on December 31, 2018 using the lower-of-cost-or-market rule. (please show its calculation and explanation)