Givoly Incorporated uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 2 : Required (answer a to d): a. Determine the ending balances in inventory (a) Case A: FIFO and (b) Case B: LIFO. b. Determine the cost of goods sold for (a) Case A: FIFO and (b) Case B: LIFO. c. Which inventory costing method may be returning the lowest NI in this exercise? What happened in the economy that resulted in this method minimizing NI? d. Would it make sense to use FIFO to handle your physical inventories and LIFO to report your inventories in your financial reporting books? Please justify your