On January 3, Flounder Corp. purchased four portable electronic keyboards for $602 each. On January 20, it purchased two more of the same model keyboards for $510 each. During the month, it sold two keyboards; one that Flounder purchased on January 3 and one that it purchased on January 20. (a) Calculate the cost of goods sold and ending inventory for the month using specific identification. Cost of goods sold $ 1112 Ending inventory 2132 Blue Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Aug. Explanation Purchases Purchases Sales Purchases Sales Unit Cost $68 102 2. 3 10 15 25 Units 237 483 (318) 858 (319) Total Cost $16.116 49.266 Balance in Units 237 720 402 1,260 941 118 101,244 (a) Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold $ Ending inventory $