Compute the cost to be assigned to ending inventory for each of the methods indicated given the following information about purchases and sales during the year. 1 January May 1 Beginning Inventory Purchases Total Available Total Sales Ending Inventory 100 items @ $7 400 items @ $8 500 items 360 items 140 $700 3,200 $3,900 December 31 Cost assigned on an average-cost basis $ Cost assigned on a FIFO basis A Costs assigned on a LIFO basis