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In its first month of operations, Vaughn Company made three purchases of merchandise in the following sequence: (1) 330 units at $8.(2) 450 units at

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In its first month of operations, Vaughn Company made three purchases of merchandise in the following sequence: (1) 330 units at $8.(2) 450 units at $9 and (3) 230 units at $10. Assuming there are 360 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Vaughn uses a periodic inventory system FIFO LIFO Cost of the ending inventory $

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