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: 750 units 2 $85 each January 15 January 21 1,600 units $100 each 1,400 units $105 each Sales: January 5 January 22 January 29 700 units 2 $125 each 1,100 units $135 each 550 units $140 each Ending inventory, January 31, 2018 1,400 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