Periodic and Perpetual SystemsCalculating Ending Inventory and Cost of Sales using FIFO and LIFO The inventory records of Cyrus Inc. showed the following data for its merchandise inventory. Date Units Unit Cost 30 $38.00 Jan 1 Inventory Purchase Jan 3 45 40.00 50 50 41.60 Jan 7 Sale Jan 10 Purchase Jan 20 Sale Jan 30 Purchase 50 50 43.20 Compute cost of goods sold and ending inventory for the month-ended January 31 using: a. FIFO (periodic inventory system). b. LIFO (periodic inventory system). C. FIFO (perpetual inventory system). d. LIFO (perpetual inventory system). Note: Round your final answers to the nearest dollar. Periodic Inventory System Ending Inventory a. FIFO Method $ 3,200 $ b. LIFO method 2,940 COGS 3,980 4,240 Perpetual Inventory System Ending Inventory C. FIFO method $ 3,200 $ d. LIFO method 2,940 x COGS 3,980 4,240 x Check