Brief Exercise 6-3 In its first month of operations, Sheffield Corp. made three purchases of mer (3) 120 units at $7 chandise in the following sequence: (1) 175 units at $s, (2) 550 units at s6, and Assuming there are 400 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Sheffield uses a periodic inventory system. FIFO LIFO (b) Cost of the ending inventorys