Cost of ending inventory? 2

In its first month of operations, Vaughn Company made three purchases of merchandise in the following sequence: (1) 330 units at $8, (2) 470 units at $9, and (3) 220 units at $10. Assuming there are 390 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Vaughn uses a periodic inventory system. FIFO LIFO Cost of the ending inventory