Sandhill Lighting had a beginning inventory of 30 units at a cost of $7 per unit on August 1. During the month, the following purchases and sales were made. Purchases Sales August 5 August 11 August 23 35 units at $8 45 units at $9 August 2 25 units August 10 30 units 40 units at $10 August 19 60 units August 21 30 units Sandhill uses a periodic inventory system. Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO FIFO 1. Ending inventory $ 2 Cost of goods sold $ LIFO