The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2016 Number Unit Total Date of Units Cost 34 37 Cost 2,380 3,330 150 $ 28 $ 4,200 Beginning inventory Purchase Sale Purchase Purchase Sale Purchase Sale 1/24 70 2/22 4/10 9/28 (100) 90 140 39 5,460 (100) 50 40 2,000 1214 (100) Required a. Assume that Kuffel Co. uses a periodic inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO FIFO LIFO Cost of goods sold Ending inventory b. Assume that Kuffel Co. uses a perpetual inventory system. Calculate cost of goods sold and ending inventory under FIFO and LIFO FIFO LIFO Cost of goods sold Ending inventory