Our company had the following balances and transactions during the current year related to merchandise inventory. What would be the company's cost of goods sold in dollars on December 31 if the company used perpetual, last in, first out (LIFO) method? $4,900 $5,950 $10,950 $12,000 Question 22 Our company had the following balances and transactions during the current year related to merchandise inventory. What would be the company's ending merchandise inventory in dollars on December 31 if the company used perpetual, first in, first out (FIFO) method? $9,900 $8,500 $8,400 $7,000