Please show how to calculate the average COGS and Ending inventory and briefly explain why neither formula produces higher cashflow. Thank you!

Your answer is correct. Which cost formula produces the higher cash flow? Neither eTextbook and Media Pronghorn-Mart Centre Inc. began operations 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 Unit Cost Units Unit Price May 1 120 $102 80 $259 8 100 13 15 60 118 308 332 113 282 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 28260 $ Cost of Goods Sold $ Ending Inventory ory $ $ 2360 $ eTextbook and Media Your answer is correct. Which cost formula produces the higher cash flow? Neither eTextbook and Media