E7-15 (Supplement 7A) Calculating Cost of Ending Inventory and Cost of Goods Sold under Perpetual FIFO and LIFO (LO 7-S1) Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method perpetually at the time of each sale, as if it uses perpetual inventory system. Assume Oahu Kiki's records show the following for the month of January. The company sold 310 units between January 16 and 23. Date Units Unit Cont Total Cont Beginning Inventory January 1 140 $85 $11,900 Purchase January 15 470 95 44,650 Purchase January 24 115 27,600 Required: Calculate the cost of ending Inventory and the cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Cost of Ending inventory Cost of Goods Sold