In its first month of operations, Coronado Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 500 units at $7, and (3) 250 units at $8. Assuming there are 350 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Coronado uses a periodic inventory system. Cost of the ending inventory eTextbook and Media Save for Later FIFO $ LIFO Attempts: 0 of 5 used Submit Answer

In its first month of operations, Coronado Company made three purchases of merchandise in the following sequence. (1) 300 units at \$6, (2) 500 units at \$7, and (3) 250 units at \$8. Assuming there are 350 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Coronado uses a periodie inventory system