In its first month of operations, Crane Company made three purchases of merchandise in the following sequence: (1) 320 units at $6, (2) 460 units at $7, and (3) 210 units at $8. Assuming there are 400 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Crane uses a periodic inventory system. FIFO Cost of the ending inventory $ 4000 A LIFO 2800