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Monty Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost

Monty Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations:

Date

Explanation Units Unit Cost Total Cost Balance in Units
Aug. 2 Purchases 240 $73 $17,520 240
3 Purchases 506 96 48,576 746
10 Sales (299 ) 447
15 Purchases 871 115 100,165 1,318
25 Sales (335 ) 983

Calculate the cost of goods sold and ending inventory using the FIFO cost method.

Cost of goods sold $enter the cost of goods sold in dollars
Ending inventory $enter the ending inventory in dollars

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