MusicLife specializes in sound equipment. Company records indicate the following data for a line of speakers: (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the amounts that MusicLife should report for cost of goods sold and ending inventory two ways: a. FIFO and b. LIFO. (MusicLlife uses a perpetual inventory system.) Start by determining the amounts that MusicLife should report for cost of goods sold and ending inventory under a. FIFO FIFO method cost of goods sold = FIFO method ending inventory = MusicLife specializes in sound equipment. Company records indicate the following data for a line of speakers: (Click the icon to view the data.) Read the requirements. Requirement 1. Determine the amounts that MusicLife should report for cost of goods sold and ending inventory two ways: a. FIFO and b. LIFO. (MusicLlife uses a perpetual inventory system.) Start by determining the amounts that MusicLife should report for cost of goods sold and ending inventory under a. FIFO FIFO method cost of goods sold = FIFO method ending inventory =