Marigold Inc. uses a perpetual inventory system. Its records show the following for the month of May. Date May 1 May 15 May 18 May 24 Explanation Inventory Purchase Sale Purchase Unit Cost $9 10 Total Cost $261 240 Units 29 24 (49) 38 91 11 418 Total $919 (a) Calculate the cost of goods sold for May and the ending Inventory at May 31 using the FIFO formula. Cost of goods sold $ Ending Inventory