Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method perpetually at the time of each sale, as if it uses perpetual inventory system. Assume Oahu Kiki's records show the following for the month of January. The company sold 240 units between January 16 and 23. Beginning Inventory Date January 1 Units Unit Cost Total Cost Purchase January 15 120 380 $ 80 $ 9,600 90 34,200 Purchase January 24 200 110 22,000 Required: Calculate the cost of ending inventory and the cost of goods sold using the FIFO and LIFO methods. FIFO LIFO Cost of Ending Inventory $ 45,400 $ 40,200 Cost of Goods Sold $ 20,400 $ 25,600