Current Attempt in Progress Grouper-Mart Centre Inc. opened for business on May 1, and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products: Purchases Sales Date Units Units May 1 120 3 80 8 100 13 80 15 60 20 60 27 40 Unit Cost $100 110 115 Unit Price $258 285 310 337 (a) Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. (Round Average answers to 2 decimal places, e.g. 5.75.) FIFO Average Cost of Goods Sold Ending Inventory