Question: I need help with these questions. Please indicate your full solution and correct answers. Thank you. Monty Furniture Ltd. uses a perpetual inventory system and

I need help with these questions. Please indicate your full solution andcorrect answers. Thank you. Monty Furniture Ltd. uses a perpetual inventory systemI need help with these questions. Please indicate your full solution and correct answers. Thank you.

Monty Furniture Ltd. uses a perpetual inventory system and has a beginning inventory, as at June 1 , of 500 bookcases at a cost of $132 each. During June, the company had the following purchases and sales of bookcases: Determine the cost of goods sold and the cost of the ending inventory using the average cost formula. (Use unrounded numbers for average cost calculations. Round answers to 2 decimal places. e.g 5.52.) Cost of goods sold $ Cost of the ending inventory $

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