Units Unit Cost Beginning inventory (January 1) New inventory purchases (January 3) New inventory purchases (January 4) Sale Uanuary 5 ata price of $420 per item) Ending inventory (January 31) $200 11 5 209 220 (12) 13 Compute the Ending Inventory and Cost of Goods sold unfer the FIFO and LIFO Method using the following format: FIFO Beginning inventory +Purchases 1/3 1/4 Sub total -Ending Inventory Cost of Goods Said LIFO: Beginning inventory +Purchases 1/3 1/4 Sub total -Ending Inventory Cost of Goods Sold