Riverbed Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1, of 480 bookcases at a cost of $132 each. During June, the company had the following purchases and sales of bookcases:

Please also explain your calculations throughly.

Purchases Sales Date Units Unit cost Units Unit price June 6 1.210 $134 10 1.020 $196 14 1,740 135 16 1.670 201 26 960 136 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 $