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In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 355 units at $6, (2) 510 units

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In its first month of operations, Sunland Company made three purchases of merchandise in the following sequence: (1) 355 units at $6, (2) 510 units at $7, and (3) 400 units at $8. Assuming there are 265 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Sunland uses a periodic inventory system

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