Comparing amounts for ending inventory-perpetual inventory-FIFO and LIFO Assume that a Models and More store bought and sold a line of 3 dolls during December as follows: 10 Models and More uses the perpetual inventory system. 11 12 Requirements 1. Compute the cost of ending inventory and the cost of goods sold 13 using FIFO. 2. Compute the cost of ending inventory and the cost of goods sold 14 using LIFO. 3. Which method results in the higher cost of goods sold? Which 15 method results in a higher cost of ending inventory