In its first month of operations, Sarasota Inc. made three purchases of merchandise in the following sequence: (1) 350 units at $8 each, (2) 670 units at $12 each, and (3) 800 units at $11 each. A physical inventory count determined that there were 620 units on hand at the end of the month. Assuming Sarasota uses a periodic inventory system. Calculate the cost of the ending inventory and cost of goods sold using by FIFO. Ending inventory $ Cost of goods sold $