Baxter Bikes Inc. uses a perpetual inventory system and started operations on the first of the month. Please answer the following questions related to the information provided for the month's transactions. Assume that the Company uses the FIFO method and does not expect any returns. You may use the following spreadsheet to prepare your calculations:1. FIFO - Baxter Bikes Inc._template.xlsx Your instructor will not mark the spreadsheet. Put your final answers in the question below. Purchases Sales Date Units Unit Cost Units Unit Price July 1 July 2 SS 200 $ 5.00 40 $ 5.80 July 4 140 $ 10.00 July 15 July 26 July 29 200 $ 5.60 80 $ es 11.00 100 $ 6.00 What is the Cost of Goods Sold for the month using the FIFO method? (1 mark) $ EA A/ What is the ending inventory $ amount that would appear on the Company's Statement of Financial Position (Balance Sheet) using the FIFO method? (1 mark) $ SA A/