Grouper Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date Explanation Units Unit Cost/Price Total Cost June 1 Beginning inventory 1.390 $4 $5,560 12 Purchases 2,400 5 12,000 15 Sale (2,550) 12 16 Purchases 4,230 6 25,380 23 Purchases 1,650 7 11,550 27 Sales (5,370) 15 (a) Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, e.g. 1.25.) FIFO Average Cost of goods sold $ $ 12 Purchases 2,400 5 12,000 15 Sale (2,550) 12 16 Purchases 4,230 6 25,380 23 Purchases 1,650 7 11,550 27 Sales (5,370) 15 (a) Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, e.g. 1.25.) FIFO Average Cost of goods sold $ $ Cost of ending inventory $ $