Martinez Inc. uses a perpetual inventory system. Its records show the following for the month of May. Date May 1 May 15 May May 24 Unit Cost $10 11 Total Cost $300 297 Explanation Inventory Purchase Sale Purchase Total Units 30 27 (46) 41 52 18 12 492 $1,089 (b) Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, e.g. 15.235 in your calculations and round final answers to 2 decimal places, eg 5.25.) Cost of goods sold $ Ending Inventory $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit