Marigold Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 520 bookcases at a cost of $116 each. During June, the company had the following purchases and sales of bookcases: Date June 6 (a) 10 14 16 26 Purchases Units Unit Cost Units $118 1,160 1,800 1,000 119 120 Your answer is incorrect. 1,020 1,520 Sales Unit Price $181 186 Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for average cost calculations. Round answers to 2 decimal places. e.g 5.52.)

Marigold Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 520 bookcases at a cost of $116 each. During June, the company had the following purchases and sates of bookcases: (a) Your answer is incorrect. Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for average cost calculations. Round answers to 2 decimal places. es 5.5.)