Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. 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. Complete this question by entering your answers in the tabs below. Which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2018 and highest ending inventory balance? Complete this question by entering your answers in the tabs below. Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods