In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8. Assuming there are 380 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Weatherall uses a periodic inventory system. Cost of the ending inventory FIFO LA LIFO

In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence: (1) 300 units at $6,(2)400 units at $7, and (3) 200 units at $8. Assuming there are 380 units on hand, compute the cost of the ending imventory under the (a) FIFO method and (b) LIFO method: Weatherall uses a periodic inventory system