Novak Inc. uses a perpetual inventory system. Its records show the following for the month of May. Date Unit Cost Total Cost Explanation Units May 1 1 Inventory 27 $7 $189 May 15 Purchase 26 8 208 May 18 Sale (46) May 24 Purchase 40 9 360 Total 93 $757 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, ss. 15.235 in your calculations and round final answers to 2 decimal places, eg 5.25.) Cost of goods sold $ Ending Inventory $