Use the following information to answer questions 37 and 38 Owl Ltd. sells many products. Hoot is one of its popular items. Below is an analysis of the inventory purchases and sales of Hoot for the month of March. Owl uses the perpetual inventory system and the FIFO costing method. 37. What is the Cost of Goods Sold for March? (a) $34,734 (b) $36,366 (c) $33,960 (d) $37,140 (e) None of the above 38. What is the ending inventory at March 31 ? (a) $34,734 (b) $36,366 (c) $33,960 (d) $37,140 (e) None of the above