In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence: (1) 100 units at $10, (2) 500 units at $11, and (3) 110 units at $12.

Assuming there are 380 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Weatherall uses a periodic inventory system.

		FIFO		LIFO
Cost of the ending inventory		$ $4,080		$ $1,650

IE