Sheridan Lighting had a beginning inventory of 16 units at a cost of $ 7 per unit on August 1. During the month, the following purchases and sales were made. Sales Purchases August 5 21 units at $8 August 11 31 units at $9 August 2 11 units August 10 16 units August 23 26 units at $ 10 August 19 46 units August 21 16 units Sheridan uses a periodic inventory system. Determine ending inventory and cost of goods sold under: 1. FIFO and 2. LIFO. FIFO LIFO 1. Ending inventory $ 2. Cost of goods sold $ $