Take me to the test An inventory record card for item 5-871 shows the following details in 2016, Date Purchases Balance Quantity Cost Quantity Cost Quantity Cost Aug 1 43 $65 Aug 130 361 43 $65 13 Aug 14 43 365 15 561 123 361 Aug 20 45 $78 123 561 40 $78 Aug 26 $61 11 361 40 $78 112 Required The company uses the FIFO cost method for inventory valuation under the perpetual inventory system. Calculate the cost of goods sold, and the value of ending inventory on August 20 Do not enter dolor comma in the input boxes Cost of Good Sold 3 Ending Inventory Check