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Riverbed-Mart Centre Inc. began operations on May 1 and uses a perpetual inventory system. During May, the company had the following purchases and sales for

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Riverbed-Mart Centre Inc. began operations on May 1 and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products: Purchases Units Unit Cost 120 Sales Unit Price Date May 1 Units $95 80 $258 100 105 80 281 60111 x Your answer is incorrect. Try again. Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. (Round Average answers to 2 decimal places, e.g. 5.75.) FIFO Average Cost of Goods Sold 20,640|| 4.53 Ending Inventory Ending inventory L

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