7. [Declining costs: LOCM] Prices for the ZB Company's prod- ucts are talking due to lower production costs On September 30, 20X2, the company had the following inventory balance 100 units a $44 $4.400 Fourth-quarter purchases were 200 units a $43 5 8.600 300 unus a $40 S12,000 Fourth-quarter sales were 125 units a $50 $62,500

a. Compule the balance in the inventory account on December 31, 20X2 using the following accounting methods (i) Firo (ii) LIF)