In its first month of operations, Coronado Industries made three purchases of merchandise in the following sequence: (1) 220 units at $7, (2) 320 units at $9, and (3) 420 units at $10. Assuming there are 120 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. Coronado Industries uses a periodic inventory system. FIFO The Ending Inventory $