Monty Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Transaction Units Cost Cost May 1 Inventory 31 $11 $341 May 15 Purchase 27 12 324 May 18 Sale (45) May 24 Purchase 38 13 494 Total 51 (a) (b) Your answer has been saved. See score details after the due date Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods sold S 509 Ending Inventory $ 650 Attempts: 1 of 1 used Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (Round average unit cost to 3 decimal places, eg. 15.235 and final answers to 2 decimal places, e.g. 525.25.) Cost of goods sold S Ending inventory $