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In its first month of operations, Sheridan Company made three purchases of merchandise in the following sequence: (1) 300 units at $8,(2)480 units at $9,

image text in transcribed In its first month of operations, Sheridan Company made three purchases of merchandise in the following sequence: (1) 300 units at $8,(2)480 units at $9, and (3) 250 units at $10. Assuming there are 380 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

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