Riverbed Inc uses a perpetual inventory system. Its records show the following for the month of May. Date May 1 May 15 May 18 May 24 Unit Cost $10 11 Total Cost $290 286 Explanation Inventory Purchase Sale Purchase Total Units 29 26 (48 36 43 12 432 $1,008 (a) - Your answer is partially correct. Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods sold $ 502.69 Ending Inventory $ 536 eTextbook and Media Attempts: 2 of 2 used (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, s. 15.235 in your calculations and round final answers to 2 decimal places, es 5.25.) 5 Cost of goods sold Ending Inventory $ eTextbook and Media Save for Later Attempts: 0 of 2 used Subot Are