Powder, Inc. sells an Xpert snowboard that is popular with snowboard enthusiasts. The following information shows Powder's purchases and sales of Xpert snowboards during November: Date Units Nov. 1 5 Unit Unit Sales Cost/Price Price $297 302 496 307 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases 12 33 20 (39) 45 (45) 33 19 22 507 312 25 47 (a) Your answer is correct. Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Powder uses a perpetual inventory system. (Round FIFO answers to the nearest whole dollar, eg. 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 $ 25358 $ 25385 Ending inventory $ 14594 $ 14568 e Textbook and Media Attempts: unlimited (b) Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Powder uses a periodic inventory system. (Round FIFO answers to the nearest whole dollar, eg. 5,275 and Average cost answers to 2 decimal places, e.g. 15.25. Round per unit cost to 2 decimal places, e.g. 15.25.) FIFO Average Cost Cost of goods sold $ $ Ending inventory $ $