tror 18 Best Brew uses a perpetual inventory system to keep track of its famous Pacific Tere the FIFO (First in, First out) method to account for its inventory ou or The following information for May 2021 is available: May 1 - 20 boxes were in stock with a cost of 550 each - E May 3-purchased 30 boxes at $60 each May 8 - sold 35 boxes May 19 - purchased 10 boxes at $70 Required: 1. 2 Compute the cost of the ending inventory on May 31, 2021. (5 marks) Compute the cost of goods sold for May 2021. [3 marks] NOTE: You can use the table in the response area to help with your calculations for 1 and 2