In its first month of operations, Blossom Company made three purchases of merchandise in the following sequence: (1) 260 units at $5, (2) 360 units at $7, and (3) 460 units at $8. Assuming there are 160 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Blossom Company uses a periodic inventory system. The Ending Inventory 24 FIFO 24 LIFO