s Exercise 8-14 (Part Level Submission) The following is a record of Shamrock Company's transactions for Boston Teapots for the month of May 2017 May 1 Balance 416 units $22 May 10 Sale 312 units $41 12 Purchase 624 units $23 20 Sale 562 units $41 28 Purchase 416 units $32 v (a) Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 582 units on hand, what is the cost of the ending inventory using (1) FIFO and (2) LIFO? (1) FIFO (2) LIFO Ending Inventory $ $ (b) Assuming that perpetual records are maintained and they tle into the general ledger, calculate the ending inventory using (1) FIFO and (2) LIFO. (2) FIFO LIFO Ending Inventory Show Work is REQUIRED for this question: Open Show Work