Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a inventory system. periodic Beginning inventory, January 1, 2018 Purchases 1,250 units@ $90 each January 15 January 21 2,600 units$105 each 2,400 units@$110 each Saless January January 22 January 29 1,200 units $130 each 1,600 units$140 each 1,050 units$145 each 2,400 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