Indigo-Mart Centre Inc. opened for business on May 1, and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products:

			Purchases				Sales
Date			Units		Unit Cost		Units		Unit Price
May	1		120		$100
	3						80		$258
	8		100		110
	13						80		283
	15		60		114
	20						60		307
	27						40		334

Question 4 of 4 - / 5 TII View Policies Current Attempt in Progress Indigo-Mart Centre Inc. opened for business on May 1, and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products: Purchases Sales Date Units Unit Cost Units Unit Price May 1 120 $100 3 80 $258 8 100 110 13 80 283 15 60 114 20 60 307 27 40 334 (a) Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. (Round Average answers to 2 decimal places, e.g. 5.75.) FIFO Average Cost of Goods Sold $ Ending Inventory Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. (Round Average answers to 2 decimal places, e.g. 5.75.) FIFO Average Cost of Goods Sold $ $ Ending Inventory $ $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit