Problem 1 A company made the following merchandise purchases and sales during the month of July: July 1 purchased 380 units at $15 each July 5 purchased 270 units at $20 each July 9 sold 500 units at $55 each July 14 purchased 300 units at $24 each July 20 sold 250 units at $55 each July 30 purchased 250 units at $30 each There was no beginning inventory. If the company uses the first-in, first-out method and the perpetual system, what would be the cost of the ending inventory and COGS?