The Rock Shop shows the following data related to an item of inventory: Beg. Inventory, January 1 100 units @ $5.00 Purchase, January 9 300 units @ $5.40 Purchase, January 19 70 units @ $6.00 Purchase, January 22 85 units @ $6.25 End Inventory, January 31 120 units Instructions (a) What value should be assigned to the cost of goods sold using FIFO? (b) What value should be assigned to cost of goods sold using LIFO