The Company had the following Inventory transactions during the month of May 2023. Calculate the ending Inventory balance under the FIFO Method and Under the LIFO method. Please explain each step 1-May-06 Opening Inventory Balance 15,000 units ($3 each) 5-May-06 7-May-06 Purchased Sold 5,000 units ($4 each) (3,000 units) 16-May-06 Purchased 21-May-06 Sold 29-May-06 Sold 31-May-07 Ending Balance 8,000 units ($5 each) (15,000 units) (7,000 units) 3,000