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In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: ( 1 ) 2 2 0 units at

In its first month of operations, Skysong, Inc. made three purchases of merchandise in the following sequence: (1)220 units at $10,(2)440 units at $11, and (3)420 units at $12.
Assuming there are 140 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Skysong uses a periodic inventory system.
(a) Cost of the ending inventory $|||
(b) Cost of the ending inventory $|||
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