Question 1: FIFO and LIFO-Periodic and Perpetual) Inventory information for UMB Corp. discloses the following information for the month of June. June 1 Balance 450 units S1 11 Purchased 1.200 units a S2 20 Purchased 750 units @ S3 June 10 Sold 300 units @ $2.40 15 Sold 750 units a S2.50 27 Sold 450 units S2.70 Instructions (a) Assuming that the periodic inventory method is used compute the cost of goods sold and ending inventory under (1) LIFO, (2) FIFO, and (3) weighted average method. (b) Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO