Question 2 of 14 0/1 View Policies Show Attempt History Current Attempt in Progress X Your answer is incorrect. In its first month of operations, Monty Corp. made three purchases of merchandise in the following sequence: (1) 150 units at $9. (2) 500 units at $10, and (3) 150 units at $11. Assuming there are 350 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Monty uses a periodic inventory system. FIFO (a) Cost of the ending inventory $ 3850 LIFO (b) Cost of the ending inventory $ 3150 e Textbook and Media Save for Later Attempts: 2 of 3 used Submit