Marigold Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date Explanation Units Unit Cost/Price Total Cost June 1 Beginning inventory 1,550 $5 $7,750 12 Purchases 2,320 6 13,920 15 Sale (2.340) 12 16 Purchases 4,830 7 33,810 23 Purchases 1,360 8 10,880 27 Sales (6,260) 15 (a) Your answer is correct. Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average cost per unit and answers to 2 decimal places, e.g. 1.25.) FIFO Cost of goods sold $ Average 54,780 $ 56,288.04 Cost of ending inventory $ 11,580 $ 10,071.96 eTextbook and Media Attempts: 1 of 3 used