Shown below is activity for one of the products of Denver Office Equipment. The company uses a perpetual inventory system. a) Compute the ending inventory and cost of goods sold assuming Denver uses FIFO. (2 marks) b) Compute the ending inventory and cost of goods sold assuming Denver uses average cost. (2 marks) Question 2: Brockton Carpet Cleaning prepares a bank reconciliation at the end of every month. At the end of July, the balance in the general ledger checking account was $2,750 and the bank balance on the bank statement was $2,980. Outstanding checks totaled $680 and deposits in transited were $400. The bank statement revealed that a check written for $120 was incorrectly recorded by Brockton as a $220 disbursement. The bank statement listed service charges and NSF check charges totaling $150. The corrected cash balance is: (2 marks)