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	800	units @ $90 each
Purchases:
January 15	1,700	units @ $105 each
January 21	1,500	units @ $110 each
Sales:
January 5	750	units @ $130 each
January 22	1,150	units @ $140 each
January 29	600	units @ $145 each
Ending inventory, January 31, 2018	1,500	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.