Use the following information for questions 2 and 3.

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

Inventory, March 1100 units @ $4.20

Purchase, March 7350 units @ $4.40

Purchase, March 16 70 units @ $4.50

Inventory, March 31130 units

2.The value assigned to ending inventory if Niles uses FIFO is

a.$579.

b.$552.

c.$1,723.

d.$1,696.

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

a.$579.

b.$552.

c.$546.

d.$585.