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Pronghorn Furniture Ltd.uses a perpetual inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $129 each.

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Pronghorn Furniture Ltd.uses a perpetual inventory system and has a beginning inventory, as at June 1, of 490 bookcases at a cost of $129 each. During June, the company had the following purchases and sales of bookcases: Sales Units Unit price Date Purchases Units Unit cost 1.150 $131 June 6 6 10 1.050 $186 14 1,820 132 16 1,680 191 26 950 133 (a) Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for average cost calculations. Round answers to 2 decimal places es 5.52.) Cost of goods sold $ 516180 Cost of the ending inventory $

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