North Hills, Inc. sells an Xpert snowshoe that is popular with snowshoe enthusiasts. The following information shows North Hillss purchases and sales of Xpert snowshoes during November:

(a)

Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming North Hills uses a perpetual inventory system. (Round FIFO answers to the nearest whole dollar, e.g. 5,275 and Average cost answers to 2 decimal places, e.g. 15.25. Do not round intermediate calculations.)

	FIFO		Average Cost
Cost of goods sold	$		$
Ending inventory	$		$

Date Units Unit Unit Sales Cost/Price Price $298 303 Nov. 1 33 5 12 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases 19 22 25 25 (38) 45 (50) 34 494 308 505 313 49