Question 2 of 10 7.5/15 Culver Inc. uses a perpetual inventory system. Its records show the following for the month of May. Date Units Unit Cost $10 11 Total Cost $330 275 1 15 May May May May Explanation Inventory Purchase Sale Purchase Total 18 24 33 25 (47) 42 100 12 504 $1,109 (a) Your Answer Correct Answer Your answer is correct. Question 2 of 10 7.5/15 Your Answer Correct Answer Your answer is correct. Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods sold $ 484 Ending Inventory tA 625 e Textbook and Media Solution Attempts: 2 of 15 used Question 2 of 10 7.5/15 (b) Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (For average, use 3 decimal places, e.g. 15.235 in your calculations and round final answers to 3 decimal places, e.g 5.255.) Cost of goods sold $ Ending Inventory $ e Textbook and Media Save for Later Attempts: 0 of 15 used Submit