E7-15 (Supplement 7A) Calculating Cost of Ending Inventory and Cost of Goods Sold u FIFO and LIFO [LO 7-S1] Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inve perpetually at the time of each sale, as if it es perpetual inventory system. Assume Oahu Kiki's records show month of January. The company sold 260 units between January 16 and 23. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units Unit Cost Total Cost 100 $ 75 $ 7,500 360 95 34,200 240 115 27,600 Required: Calculate the cost of ending inventory and the cost of goods sold using the FIFO and LIFO methods. LIFO $ FIFO 46,600 $ 22,700 $ Cost of Ending Inventory Cost of Goods Sold 44,600 $ 24,700 W