Question: Current Attempt in Progress Your answer is incorrect. In its first month of operations, Crane Company made three purchases of merchandise in the following

Current Attempt in Progress Your answer is incorrect. In its first month of operations, Crane Company made three purchases of merchandise in the following sequence: (1) 240 units at $6, (2) 340 units at $8, and (3) 440 units at $9. Assuming there are 140 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. Crane uses a periodic inventory system. FIFO Ending inventory $ LIFO 1,093

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