On December 1, 2022, Skysong, Inc. had the account balances shown below. Debits Credits Cash $4,870 Accumulated Depreciation-Equipment $1,600 Accounts Receivable 4,090 Accounts Payable 2,870 Inventory (3,300 x $0.60) 1,980 Common Stock 10,800 Equipment 20,700 Retained Earnings 16,370 $31,640 $31,640 The following transactions occurred during December. Dec. 3 Purchased 4,300 units of inventory on account at a cost of $0.79 per unit. 5 Sold 4,700 units of inventory on account for $0.80 per unit. (It sold 3,300 of the $0.60 units and 1,400 of the $0.79.) 7 Granted the December 5 customer $160 credit for 200 units of inventory returned costing $130. These units were returned to inventory. 17 Purchased 2,100 units of inventory for cash at $0.80 each. 22 Sold 1,900 units of inventory on account for $0.86 per unit. (It sold 1,900 of the $0.79 units.) Adjustment data: 1. Accrued salaries and wages payable $350. 2. Depreciation on equipment $200 per month. 3. Income tax expense was $220, to be paid next year. Compute ending inventory and cost of goods sold under FIFO, assuming Skysong, Inc. uses the periodic inventory system. Ending Inventory Cost of Goods Sold $ Compute ending inventory and cost of goods sold under LIFO, assuming Skysong, Inc. uses the periodic inventory system. Ending Inventory Cost of Goods Sold +A $