Niles Co. has the following data related to an item of inventory:

Inventory, March 1 400 units @ $2.10

Purchase, March 7 1,400units @ $2.20

Purchase, March 16 280 units @ $2.25

Inventory, March 31 520 units

A. The value assigned to ending inventory if Niles uses LIFO is

a. $1,160.

b. $1,104.

c. $1,092.

d. $1,168.

B. The value assigned to cost of goods sold if Niles uses FIFO is

a. $1,160.

b. $1,104.

c. $3,448.

d. $3,392.

Please EXPLAIN your answers to get a thumbs-up.