MusicYear 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 MusicYear should report for cost of goods sold and ending inventory two ways: a. FIFO and b. LIFO. (MusicYear uses a perpetual inventory system) Start by determining the amounts that MusicYear should report for cost of goods sold and ending inventory under a FIFO. FIFO method cost of goods sold FIFO method ending Inventory Data Table - X Item Date Mar 1 Quantity 15 Unit Cost Sale Price S 46 Mar 2 Balance Purchase Sale 5 63 Mar 7 7 $ 94 Mar 13 Sale 4 91 Print Done