Question 9 Not yet answered Marked out of 10.00 Flag question A company made the following merchandise purchases and sales during the month of July: 1-Jul purchased 400 5-Jul purchased 300 9-Jul sold 550 14-Jul purchased 200 20-Jul sold 100 30-Jul purchased 400 units @ $15 each units @ $16 each units @ $25 each units @ $18 each units@ $25 each units @ $17 each There was no beginning inventory. If the company uses the first-in, first-out (FIFO) method and the perpetual system, what would be the cost of the ending inventory and the total cost of goods sold? 2 A BIU - Goods Purchased Cost of Goods Sold Date Inventory Balance