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In its first month of operations, Whispering Winds Company made three purchases of merchandise in the following sequence: ( 1 ) 1 8 5 units

In its first month of operations, Whispering Winds Company made three purchases of merchandise in the following sequence: (1)185 units at $6,(2)280 units at $6, and (3)380 units at $9. Assuming there are 235 units on hand, compute the cost of the ending inventory under (1) the FIFO method and (2) the LIFO method. Whispering Winds uses a periodic inventory system.

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