The following information is available for Clancy Company:

Beginning inventory	600 units at $4
First purchase	900 units at $6.50
Second purchase	500 units at $7.20

Assume that Clancy uses a periodic inventory system and that there are 760 units left at the end of the month.

Instructions

Compute the cost of ending inventory under the

(a) FIFO method.

(b) LIFO method.

Please show work