Saved Help Alta Ski Company's inventory records contained the following information regarding its latest skl model. The company uses a periodic Inventory system. Beginning inventory, January 1, 2018 Purchases: 688 units $7e each January 15 January 21 1,3ea units $85 each 1,188 units s98 each 550 units $11e each 400 units $125 each Sales: January 5 January 22 anuary 29 959 units @120 each Ending inventory, 3anuary 31, 2018 1,1ee units Requlred: 1e. Which method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2018? 1b. Which method will result in the highest ending inventory balance? 2. Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods. Complete this question by entering your answers in the tabs below Req 1A and 1Req 2 Whic balance? h method, FIFO or LIFO, will result in the highest cost of goods sold figure for January 2018 and highest ending inventory 1a. Hiphest cost of goods sold figure 1b. Highest ending inventory balance Req 2 Alta Ski Companys Inventory records contalned the following Information regarding its latest ski model. The company uses a pertodic Inventory system. Beginning inventory, January 1, 2618 Purchases: 68e units e s7e each anuary 15 January 21 1,300 units e $85 each 1,18e units e s98 each Danuary 5 Danuary 22 January 29 55e units $110 each 95e units $128 each 400 units $125 each Ending inventory, January 31, 2018 1,100 units Required: 10. Which method, FIFO 1b. Which method will result in the highest ending inventory balance? 2 Compute cost of goods sold for January and the ending inventory using both the FIFO and LFO methods. or LIFO, will result in the highest cost of goods sold figure for January 2018? Complete this question by entering your answers in the tabs below Req 1A and 18 Req 2 Cempute cost of geods seld for January and the ending inventory using both the FIFO and LIFO methods Cost of Goods Avaiable for Sale Cost of Goods Sold -Periodis FiFo Ending Inventory Periodie Fi # of units unit | Available for |#ofunits Cost per Cost per Ending unit Goods Sold in ending Cost per Sale unit Inventory Beginning Inventory Purchases January 15 January 21 Total Cost of Goods Available for Sale Cost of Goods s Cost of Goods old Periodic Liro Ending Inventory Periodie LUFO LEQ of units Cost per tof. Cost per s of units # of units Cost per Ending Sale Goods 5old Inventory Beginning Invensory Purchases January 1t January 21 Total Reg 1A and 18 Req 2