4. MusicWorld.net specializes in sound equipment. Because each inventory item is expensive, MusicWorld, uses a perpetual inventory system. Company records indicate the following data for a line of speakers: Date Item Quantity Unit Cost Sale Price Jun 1 Jun 2 Balance... 14 $42 Purchase... 4 69 Jun 7 Sale 7 $111 Jun 13 Sale 111 Determine the amounts that Music World should report for cost of goods sold and ending inventory two ways: a. FIFO b. LIFO (Show your solution step by step) (10 Points)