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 2024 ? 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. 3a. Assume that inventory costs were declining during January. The inventory purchased on January 15 had a unit cost of $70, and the inventory purchased on January 21 had a unit cost of $65. All other information is the same. Which method, FiFO or LIFO, will result in the highest cost of goods sold figure for January 2024 ? 3b. Which method will result in the highest ending inventory balance? 3c. 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 Which method, FIFO or LIFO, will result in the highest cost balance? ompute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods. 1b. Which method will result in the highest ending 2. Compute cost of goods sold for January and the 3a. Assume that inventory costs were declining du inventory purchased on January 21 had a unit cost the highest cost of goods sold figure for January 2 3b. Which method will result in the highest ending 3c. Compute cost of goods sold for January and th Complete this question by entering your ansu Assume that inventory costs were declining during J: goods sold figure for January 2024 and highest endil \& Req 3A and 3B