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In its first month of operations, Whispering Winds Corp.made three purchases of merchandise in the following sequence: (1) 145 units at $7.(2) 490 units at

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In its first month of operations, Whispering Winds Corp.made three purchases of merchandise in the following sequence: (1) 145 units at $7.(2) 490 units at 58. and (3) 145 units at $9. Assuming there are 340 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Whispering Winds uses a periodic inventory system, FIFO (a) Cost of the ending Inventory S LIFO (b) Cost of the ending inventory $

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