In its fi rst month of operations, Bethke Company made three purchases of merchandise

in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8.

Assuming there are 360 units on hand, compute the cost of the ending inventory under the

(a) FIFO method and (b) LIFO method. Bethke uses a periodic inventory system.