During 2021, a company sells 320 units of inventory for $86 each. The company has the following inventory purchase transactions for 2021: Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 63 167 185 Unit Cost $64 65 67 Total Cost $ 4,032 10,855 12,395 $27,282 415 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses FIFO. Ending inventory Cost of goods sold During 2021, a company sells 349 units of inventory for $92 each. The company has the following inventory purchase transactions for 2021: Date Transaction Jan. 1 Beginning inventory May 5 Purchase Nov. 3 Purchase Number of Units 65 160 184 409 Unit Cost $65 67 70 Total Cost $ 4,225 10,720 12,880 $27,825 Calculate ending inventory and cost of goods sold for 2021 assuming the company uses LIFO. Ending inventory Cost of goods sold