Young Company had the following information for the year ending December 31: Units Unit Cost Beginning inventory 250 $41 Purchase: April 6 240 40 Sale: May 4 260 Purchase July 19 390 37 Sale: September 9 300 Purchase: October 10 100 31 Young uses the perpetual inventory system and the FIFO method. Required: Using FIFO (a) Compute the cost of ending inventory. (b) Compute the cost of goods sold for the year. Explanation Check Search O