E7-15 (Supplement 7A) Calculating Cost of Ending Inventory and Cost of Goods Sold un FIFO and LIFO [LO 7-S1) Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inver perpetually at the time of each sale, as if it uses perpetual inventory system. Assume Oahu Kiki's records show th month of January. The company sold 260 units between January 16 and 23. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Uni 100 360 240 Unit Cost Total Cost $ 75 $ 7,500 95 34,200 115 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