$5.$ Lumley Company uses the perpetual inventory system and had the following purchases and sales during March. Purchases SalesUnitsUnit CostUnits Selling Price$/$Unit$3/1$Beginning inventory$100$$$403/3$Purchase$60$$$503/4$Sales$70$$$803/10$Purchase$200$$$553/16$Sales$80$$$903/19$Purchase$40$$$603/25$Sales$150$$$90$ InstructionsUsing the inventory and sales data above, calculate the value assigned to cost of goods sold in March and to the ending inventory at March $31$ using $($a$)$ FIFO and $($b$)$ LIFO.

Can you explain please how calculate the balance