*Exercise 8-14 The following is a record of Sage Company's transactions for Boston Teapots for the month of May 2017 May 1 Balance 480 units$19 May 10 Sale 360 units $38 12 Purchase 720 units$2520 Sale 648 units$38 28 Purchase 480 units$31 Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 672 units on hand, what is the cost of the ending inventory using (1) FIFO and (2) LIFO? FIFO LIFO Ending Inventory Assuming that perpetual recorsmaintained and they tie into the general ledger, calculate the ending inventory using (1) FIFO and (2) LIFO. FIFO LIFO Ending Inventory