Please answer questions and show work using the FIFO and LIFO periodic system. Thank you!

Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. Required: 1. Which method, FFO or LIFO, will result in the highest cost of goods sold figure for January 2024? Why? Which method will result in the highest ending inventory balance? Why? 2. Compute cost of goods sold for January and the ending inventory using both the FFO and LIFO methods. 3. Now assume that inventory costs were decliming during January. The inventory purchased on January 15 had a unit cost of $70, and the inventory purchased on January 21 had a unit cost of \$65. All other information is the same. Repeat requirements I and 2