7) The coffee shop completed the following periodic inventory transactions for a line of merchandise inventory: June 1 Beginning inventory 20 Units @ $20 each June 12 Purchase 6 Units @ $ 22 each June 20 Sale 14 Units @ $35 each June 24 Purchase 16 Units @ 24 each June 29 Sale 20 Units @ $35 each Requirements: a) Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the FIFO inventory. b) Determine the cost of goods sold and ending merchandise inventory by preparing a perpetual inventory record using the LIFO inventory