In its first month of operations, Sheridan Company made three purchases of merchandise in the following sequence: $(1)225$ units at

$$7,(2)450$ units at $$8,$ and $(3)425$ units at $$9.$

Assuming there are $150$ units on hand, compute the cost of the ending inventory under the $($a$)$ FIFO method and $($b$)$ LIFO method.

Sheridan uses a periodic inventory system.

FIFO

$($a$)$ Cost of the ending inventory $

LIFO

$($b$)$ Cost of the ending inventory $