Question 1 of 9 Grouper Furniture Ltd. uses a perpetual inventory system and has a beginning inventory as at June 1 of 480 bookcases at a cost of $114 each. During June, the company had the following purchases and sales of bookcases Purchases Sales Date Units Unit cost Units Unit price June 6 1.160 $116 10 990 $197 14 1,810 117 16 16201 202 26 990 118 1 (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, eg 5.52) Cost of goods sold $ Cost of the ending inventory $