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E6-20A (similar to) Question Help O MusicCity specializes in sound equipment. Company records indicate the following data for a line of speakers: Click the icon to view the data.) Read the requirements. Requirement 1. Determine the amounts that MusicCity should report for cost of goods sold and ending inventory two ways: a. FIFO and b. LIFO. (MusicCity uses a perpetual inventory system.) a. Using the FIFO method, the cost of goods sold is $ 523 and the ending inventory is $741 Data Table Date Item Quantity Unit Cost Sale Price Mar 1 Balance 15 $ 57 2 Purchase 2 62 7 Sale 7 $ 113 13 Sale................. 6 101 Print Done Enter any number in the edit fields and then click Check