In its first month of operations, Concord Corporation made three purchases of merchandise in the following sequence: (1) 215 units at $5, (2) 430 units at $6, and (3) 415 units at $7. Assuming there are 130 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Concord uses a periodic inventory system.

Cost of the ending inventory; FIFO

Cost of the ending inventory: LIFO