Mark & Company uses a perpetual inventory system. The following information is available for November:

Nov.

$1$

$4$

$7$

$10$

$12$

Inventory

Purchase

Purchase

Sale

Sale

Units

$38$

$76$

$76$

$(38)$

$(84)$

Purchase

Price

$$5$

$$5\mathrm{.}50$

$$6$

Sales

Price

$$8$

$$8$

$($a$)$

Calculate the cost of goods sold and ending inventory under FIFO.Mark & Company uses a perpetual inventory system. The following information is available for November:

Nov.

$1$

$4$

$7$

$10$

$12$

Inventory

Purchase

Purchase

Sale

Sale

Units

$38$

$76$

$76$

$(38)$

$(84)$

Purchase

Price

$$5$

$$5\mathrm{.}50$

$$6$

Sales

Price

$$8$

$$8$

$($a$)$

Calculate the cost of goods sold and ending inventory under FIFO.