BE$6\mathrm{.}6($LO $2)($Apply perpetual FIFO and average cost.$)$ Battery Limited uses a perpetual

inventory system. The inventory records show the following data for its first month of

operations:

Calculate the cost of goods sold and ending inventory using $($a$)$ FIFO and $($b$)$ average cost $($for

average cost, use unrounded numbers in your calculations but round to the nearest cent for

presentation purposes in your answer$)$; and $($c$)$ calculate the gross profit for the month of

August.