Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. 1,400 units @ $60 each 2,900 units @ $75 each 2,700 units @ $80 each Beginning inventory, January 1, 2018 Purchases: January 15 January 21 Sales: January 5 January 22 January 29 Ending inventory, January 31, 2018 1,350 units @ $100 each 1,750 units @ $110 each 1,200 units @ $115 each 2,700 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. Reg 1A and 1B Reg 2 Which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2018 and highest ending inventory balance? 1a. Highest cost of goods sold figure 1b. Highest ending inventory balance