5: (5 Points, 5 Points, 20 Points) Jones Sweatshirt Company's inventory records contained the following information regarding its latest hoodie model. The company uses a periodic inventory system. Beginning inventory, January 1, 2021 600 units @ $80 each Purchases: January 15 1,000 units @ $95 each January 21 800 units @ $100 each Sales: January 5 400 units @ $120 each January 22 January 29 800 units @ $130 each Ending inventory, January 31, 2021 400 units @ $135 each 800 units Required: 1a. Which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2021? 1b. Which method will result in the highest ending inventory balance? 2. Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods