View Policies Current Attempt in Progress In its first month of operations, McLanie Company made three purchases of merchandise in the following sequence: (1) 300 units at $ (2) 400 units at $8, and (3) 500 units at $9. Assuming there are 200 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. McLanie uses a periodic inventory system. (a) Cost of the ending inventory $ (b) Cost of the ending inventory FIFO LIFO