Brief Exercise 6-2 In its first month of operations, Crane Company made three purchases of merchandise in the following sequence: (1) 380 units at $7, (2) 480 units at $9, and (3) 580 units at $10. Assuming there are 280 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Crane Company uses a periodic inventory system. the ending inventory- FIFO: LIFO: