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With an explanation please Marigold Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Explanation

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Marigold Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Explanation Units Cost Cost May 1 Inventory 29 $9 $261 May 15 Purchase 24 10 240 May 18 Sale (49) May 24 Purchase 38 11 418 Total 42 $919 42 $919 (a) Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. Cost of goods sold $ Ending Inventory $

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