Use the following information for the month of May. May 1 7 18 22 29 Beginning inventory Purchases Sales Purchases Sales 20 units @ $16 70 units @ $20 25 units 40 units @ $22 10 units Assuming that a Moving Average perpetual inventory system is used, what is Cost of Goods Sold? Select one: O a. $1,880 b. $763 O c. $700 d. $680 e. $1,920 May 1 Beginning inventory 7 Purchases 18 Sales 22 Purchases 29 Sales 20 units @ $16 70 units @ $20 25 units 40 units @ $22 10 units Using the FIFO periodic inventory system, what is Ending Inventory?! Select one: a. $1,880 O b. $1,980 c. $1,830 d. $1,760 e. $1,900