Chapter $6$

Question $3$ of $16$

$\frac{-}{1}$

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In its first month of operations, Oriole Company made three purchases of merchandise in the following sequence: $(1)250$ units at $$6,(2)350$ units at $$8,$ and $(3)450$ units at $$9.$ Assuming there are $150$ 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. Oriole uses a periodic inventory system.

FIFO

LIFO

Ending inventory

$ $$ $ $$

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