Sarasota Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Unit Cost $70 97 Total Cost $17,640 48,597 Date Aug. 2 3 10 15 25 Explanation Purchases Purchases Sales Purchases Sales Units 252 501 (295) 880 (328) Balance in Units 252 753 458 1.338 1,010 124 109,120 (a) Your answer is correct Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold $ 53627 Ending inventory $ 121,730 e Textbook and Media Attempts: unlimited (b) * Your answer is incorrect. Calculate the cost of goods sold and ending inventory using the average cost method. (Round average cost per unit to 2 decimal places, eg. 1.25. Round intermediate and final answers to decimal places, e.g. 5,125.) Cost of goods sold $ 53627 Ending inventory $ 121,730