10:58 Positive Marks: 10 | Negative Marks: Question No 16 Tom ford Dealers is a wholesale company. They focus primarily on furniture and kitchen appliances. Tom ford Dealers uses the perpetual inventory system. For one specific inventory item they had the following transactions for the month of May. There were 300 items at the beginning of the month, with a cost of $100 each. Date Transaction Quantity Price May 5 Purchased items 600 $140 Apr 7 Sold items 560 May 15 Purchased items 550 $120 May 19 Purchased items 400 $130 May 27 Sold items 450 Calculate the value of COGS for the month of May and the value of ending inventory at the end of May using the FIFO method. Upload your answer's Image/Screen-Shoot Choose file No file chosen Write your answer. A