Flint Inc. uses a perpetual inventory system. Its records show the following for the month of May. Total Unit Cost Date Explanation Units Cost May 1 Inventory 29 $11 $319 May 15 Purchase 25 12 300 May 18 Sale (49) May 24 Purchase 43 13 559 Total 97 $1,178 (a) 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 $ 559 Ending Inventory $ 619 Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, eg. 15.235 in your calculations and round final answers to 3 decimal places, e85.255.) Cost of goods sold Ending Inventory $ e Textbook and Media