Perpetual System-Calculating Ending Inventory and Cost of Sales Using FIFO Upland Co.'s inventory records showed the following data accounted for in a perpetual inventory system. Date Units Unit Cost June 1 Inventory (beg.) 300 $8.00 June 3 Purchases 600 8.40 June 7 Sales (at $16 per unit) 420 June 20 Purchases 408 9.00 June 22 Sales (at $16 per unit) 660 What is (a) ending inventory on June 30, and (b) cost of goods sold for June, using the FIFO inventory method? Note: Do not use negative signs with any of your answers. Note: List the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first. Purchases Unit Total Cost of Sales Unit Total Inventory Balance Unit Total Date June 1 Units Cost Cost Units Cost Cost Units Cost Cost 300 $8.00 $2,400 June 3 600 8.4 5,040 0 x $ 0 * $ 0 0 x $ 0 x $ 0 June 7 0 * $ 0 x $ 0 0 * $ 0 x $ 0 0 x $ 0 * $ 0 June 20 408 9 3,672 0 x $ 0 * $ 0 0 * $ 0 * $ 0 June 22 0 * $ 0 x $ 0 0 * $ 0 x $ 0 0 x $ 0 * $ 0 a. Ending Inventory $ 0 x b. Cost of goods sold $ 0 x