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,e0 units $65 eaclh January 15 January 21 2, 1e0 units $80 eaclh 1,9e0 units $85 eaclh Sales January January 22 January 29 958 units $105 each 1, 350 units $115 each 880 units $128 each Ending inventory, January 31, 2018 1, 900 units 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 Req 1A and 1B Req 2 Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods. Cost of Goods Available for SaleC Cost of Goods Sold - Periodic FIFO Ending Inventory - Periodic FIFO Cost of Goods # of units in Cost per Available for Ending Inventory Cost per # of units sold # of units Cost of Cost per unit Goods Sold ending Sale Beginning Inventory Purchases: January 15 January 21 Total Cost of Goods Available for SaleCost of Goods Sold - Periodic LIFO Ending Inventory - Periodic LIFO Cost of Goods # of units in Cost per Available for # of units sold Ending Inventory # of units Cost per Cost of Cost per unit Goods Sold ending Sale inve Beginning Inventory Purchases: January 15 January 21 Total Req 1A and 1B Req 2