Flounder Inc uses a perpetual inventory system. Its records show the following for the month of May. Unit Cost Explanation Total Cost Date Units May 1 Inventory 29 $7 $ 203 May 15 Purchase 24 8 192 May 18 Sale (41) May 24 Purchase 41 ON 9 369 Total 94 $ 764 (a) 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 $