Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system Beginning inventory, January 1, 2018 Purchases 1, 350 units @ $100 each January 15 January 21 2,800 units $115 each 2,600 units $120 each Sales: January 5 January 22 January 29 1,300 units $140 each 1,700 units $150 each 1,150 units G $155 each 2, 600 units Ending inventory, January 31, 2018 Required 1a. Which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2018? 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