Indigo Inc. uses a periodic inventory system. Its records show the following for the month of May, in which 85 units were sold. Date Units Explanation Inventory Unit Cost $10 Total Cost $ 290 29 May 1 May 15 May 24 Purchase 24 11 264 Purchase 43 12 516 Total 96 $ 1,070 (a) Calculate the Cost of goods sold and the ending inventory at May 31 using the FIFO formula Cost of goods sold $ Ending inventory $