Sheffield Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Units Aug. 2 3 Unit Cost $69 Explanation Purchases Purchases Sales Purchases Sales Total Cost $17,112 47,500 100 10 15 248 475 (313) 876 (309) Balance in Units 248 723 410 1.286 977 118 103,368 25 (a) Your answer is correct. Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold $ 54512 Ending inventory 113468 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 and final answers to O decimal places, eg. 5,125.) Cost of goods sold $ Ending inventory $