Problem 5-20A Allocating product costs between cost of goods sold and ending inventory: intermittent purchases and sales of merchandise LO 5-1 {The following information applies to the questions displayed below.) Pam's Creations had the following sales and purchase transactions during Year 2. Beginning inventory consisted of 60 items at $350 each. The company uses the FIFO cost flow assumption and keeps perpetual inventory records, Date Transaction Description Mar. 5 Purchased Se itens $370 Apr, 10 Sold 30 itens $450 60 itens $450 Sept. 16 Purchased 70 itens 5390 Nov. 28 Sold 45 items $480 June 19 Sold Problem 5-20A Part c. Determine the ending inventory balance Pam's Creations would report on the December 31 Year 2, balance sheet Ending inventory