Concord Corporation reports the following for the month of June. Unit Units Cost Total Cost June 1 Inventory 280 $5 $ 1,400 12 Purchase 560 8 4,480 23 Purchase 420 11 4,620 30 Inventory 140 Your answer is incorrect. Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. FIFO LIFO Cost of the ending inventory Cost of goods sold LAX Your answer is incorrect. Which costing method gives the higher ending inventory? LIFO method Average-cost method FIFO method lia