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. (MusicLife uses a perpetual inventory system.) a. Using the FIFO method, the cost of goods sold is $ and the ending inventory is $ Data Table Sale Price Date Mar Quantity 19 Item 1 Balance .............. 2 Purchase. ............ 3 7 Sale........ Unit Cost $ 54 5 9 .......... 7 $ 107 105 13 Sale................. Print [Done Print Done