In its first month of operations, Cullumber Company made three purchases of merchandise in the following sequence: (1) 200 units at $5. (2) 400 units at $6, and (3) 400 units at $7. Assuming there are 100 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Cullumber uses a periodic inventory system. (a) Cost of the ending inventory (b) Cost of the ending inventory FIFO | LIFO