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Blue Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Total Cost $8,220.00 17,010 Date Explanation June 1 Beginning inventory 12 Purchases 15 Sale 16 Purchases 23 Purchases 27 Sales Unit Units Cost 1,370 $6 2,430 7 (2,540 ) 4,0708 1,400 (5,230) 32,560 12,600 - Your answer is partially correct. Determine the cost of goods sold and the cost of the ending inventory using (1) FIFO and (2) Average cost. (Round average final answers to 2 decimal places, e.g. 1.25. Do not round intermediate calculations.) FIFO Average Cost of goods sold 56,990 58,974.3 Cost of ending inventory $ 13,400 12030