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 300 units between January 16 and 23. Beginning Inventory Purchase Purchase Date January 1 January 15 January 24 Units Unit Cost Total Cost 240 $ 75 $18,000 320 85 27,200 240 105 25,200 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 Cost of Goods Sold Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the time of each sale, as if it uses a perpetual inventory system. Assume its accounting records provided the following information at the end of the accounting period, January 31. The inventory's selling price is $11 per unit. Unit Cost $4.50 Total Cost $1,575 Transactions Inventory, January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 Units 350 (300) 450 (250) 130 5.00 2,250 6.00 780 Required: 1. Calculate the cost of goods sold and ending inventory for Mojo Industries assuming it applies the LIFO cost method perpetually at the time of each sale. Ending Inventory Cost of Goods Sold