The inventory records of Kuffel Co. reflected the following information for the year ended December 31, 2019: Date 1/1 Transaction Number of Units Unit Cost Total Cost Beginning inventory 1/24 Purchase 150 70 $ 27 $ 4,050 31 2,170 2/22 Sale (100) - 3/7 Purchase 90 38 3,420 4/10 Purchase 6/11 Sale 140 (100) 37 5,180 9/28 12/4 Purchase Sale 50 36 1,800 (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. Cost of goods sold Ending inventory FIFO LIFO