(55) P6-4B (P6-5B) BigFish Tackle Co. Ltd. reports the following inventory transactions for its fish

(55) P6-4B (P6-5B) BigFish Tackle Co. Ltd. reports the following inventory transactions for its fishing rods for the month of April. The company uses a perpetual inventory system. Date Explanation Unit Unit Total S Cost Cost Apr. 1 Beginning inventory 50 $230 $11,500 Purchases 35240 8,400 9 Sales Purchases 40 245 9,800 20 Sales (50) 28 Purchases 30 250 7,500 Instructions (a) Determine the cost of goo ds sold and cost of ending inventory using FIFO. (b) Determine the cost of goods sold and cost of ending inventory using average cost. (Use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your answer.)