Inventories (LO 3.2) following purchases of candy during the year: At the end of the year, Lawrence's inventory consisted of 16,000 boxes of candy. a. Calculate Lawrence's ending inventory and cost of goods sold using the FIFO inventory valuation method. Ending inventory Cost of goods sold b. Calculate Lawrence's ending inventory and cost of goods sold using the LIFO inventory valuation method. Ending inventory Cost of goods sold $ ds sold $