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In its first month of operations, Ayayai Company made three purchases of merchandise in the following sequence: ( 1 ) 1 8 0 units at

In its first month of operations, Ayayai Company made three purchases of merchandise in the following sequence: (1)180 units at $4,(2)280 units at $5, and (3)380 units at $8. Assuming there are 220 units on hand, compute the cost of the ending inventory under (1) the FIFO method and (2) the LIFO method. Ayayai uses a periodic inventory system.
Cost of Ending Inventory-FIFO $
Cost of Ending Inventory-LIFO
$
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