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Alrcard Corporation tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each perlod as if it uses a perpetual inventory system. The following are the transactions for the month of July. Required: Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with (a) FIFO and (b) LIFO. Complete this question by entering your answers in the tabs below. Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with FIFO. Aircard Corporation tracks the number of units purchased and sold throughout each accounting perlod but applies its Inventory costing method at the end of each period as if it uses a perpetual inventory system. The following are the transactions for the month of July. Required: Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with (a) FIFO and (b) LIFO. Complete this question by entering your answers in the tabs below. Calculate the cost of ending inventory and cost of goods sold assuming a perpetual inventory system is used in combination with LIFO