Compute inventory and cost of goods sold using FIFO and LIFO. E6.6 (LO 2), AP Ballas Co. uses a periodic inventory system. Its records show the following for the month of M in which 68 units were sold. Units Unit Cost Total Cost May i Inventory 30 $ 8 $240 15 Purchase 11 275 24 Purchase 35 12 420 Total 90 $935 Instructions Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. Prove the amount allocated to cost of goods sold under each method. 25