(b) For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. FIFO LIFO The sum of ending inventory and cost of goods sold $ What do you notice about the answers you found for each method? Under both methods, the sum of the ending inventory and cost of goods sold are equal the same amount not equal the same amount e Textbook and Media Attempts: 0 of 4 used Submit Answe Save for Later Martinez Corp.sells a snowboard. WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Martinez Corp's purchases of WhiteOut snowboards during September. During the same month, 120 WhiteOut snowboards were sold at $170 each. Martinez Corp. uses a periodic inventory system Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 27 $100 $2.700 Sept. 12 Purchases 43 106 4,558 Sept. 19 Purchases 26 110 2,860 Sept. 26 Purchases 17 112 5,264 Totals 143 $15.382 (a) Your answer is correct Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO 2576 2300 The ending Inventory 12006 $ 13082 $ Cost of soods sold