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View Policies Current Attempt in Progress In its first month of operations, Sheffield Corp. made three purchases of merchandise in the following sequence: (1) 380 units at $6, (2) 480 units at $8, and (3) 580 units at $9. Assuming there are 280 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Sheffield Corp. uses a periodic inventory system. The Ending Inventory FIFO LIFO e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer 16 32