Question 1 - Calculate the Ending Inventory and Cost of Goods Sold by using FIFO and LIFO method: Use provided information to prepare [A] FIFO (First-in-First-out) [B] LIFO (Last-In-First-Out) method to calculate : ENDING INVENTORY and COST OF GOODS SOLD. Please provide the clear calculation. FIFO Method Company sold 280 units [1] Calculate the Total Units and Total cost of goods available for sale Date Units Unit Cost Total Beginning 80 $ 1.50 6/5 85 2.75 7/10 70 3.00 8/9 50 3.50 9/20 40 4.00 Total Cost of Goods Available for sale [2] Calculate the Ending Inventory Date Units Unit Cost Total [3] Calculate Cost of Goods Sold Cost of goods available for sale minus ending inventory [3] Calculate Cost of Goods Sold Cost of goods available for sale minus ending inventory