Sheffield Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost Total Cost Balance in Units 244 736 443 1,379 1,048 Aug. 2 Purchases 244 492 (293) 936 573 $17,812 102 50,184 3 Purchases 10 Sales 15 Purchases 25 Sales 115 107,640 (a) [ Your answer is correct. Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold Ending inventory 56572 119064 SHOW SOLUTION LINK TO TEXT (b) Calculate the cost of goods sold and ending inventory using the average cost method. (Round final answers to 2 decimal places, e.g. 1.25.) Cost of goods sold Ending inventory