Brief Exercise 6-03 X Your answer is incorrect. Try again. In its first month of operations, Sheridan Company made three purchases of merchandise in the following sequence: (1) 300 units at $8, (2) 480 units at $9, and (3) 250 units at $10. Assuming there are 360 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Sheridan uses a periodic inventory system. FIFO LIFO Cost of the ending inventory 3,600 2,880