Sheffield Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June Date Explanation Units Unit Cost Total Cost $7,050.00 13,920 June $5 1 Beginning inventory 12 Purchases 15 Sale 16 Purchases 23 Purchases 27 Sales 1,410 2,320 (2,540) 4,700 1,380 (5,790) 32,900 11,040 8 Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average final answers to 2 decimal places, eg. 1.25. Do not round intermediate calculations.) FIFO Average Cost of goods sold Cost of ending inventory