Current Attempt in Progress Blue Inc. uses a perpetual inventory system. Its records show the following for the month of May. Unit Total Date Transaction Units Cost Cost May 1 Inventory 31 $8 $248 May 15 Purchase 24 g 216 May 18 Sale (43) May 24 Purchase 39 10 390 Total 51 (a) v Your answer is correct. Calculate the cost of goods sold for May and the ending inventory at May 31 using the FIFO formula. eTextbook and Media Attempts: 1 of 2 used (b) X vour answer is incorrect. Calculate the cost of goods sold for May and the ending inventory at May 31 using the average cost formula. (Round average unit cost to 3 decimal places, e.3. 15.235 and final answers to 2 decimal places, eg.525.25) Costofgoodssold $ 390.66 Ending inventory $ 463.34