In its first month of operations, Sheffield Company made three purchases of merchandise in the following sequence: (1) 310 units at $7, (2) 440 units at $8, and (3) 220 units at $9. Assuming there are 400 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Sheffield uses a periodic inventory system. FIFO LIFO Cost of the ending inventory $ $ $