Brief Exercise 6-3 In its first month of operations, Bethke Company made three purchases of merchandise in the following sequence: (1) 160 units at $5, (2) 420 units at $6, and (3) 105 units at $7. Assuming there are 320 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Bethke uses a periodic inventory system.