FIFO & LIFO ASSIGNMENT Beginning inventory, purchases, and sales data on Commodity A, as taken from Rich Company's perpetual inventory account, were as follows: July 1 Beginning inventory 5 units @4 $20 15 units $5 =$75 6 SALE 16 UNITS 10 PURCHASE 15 UNITS @ $6 20 SALE 11 UNITS 10 UNITS @ $7 30 PURCHASE 31 SALE 7 UNITS Determine the cost of the ending inventory at JULY 31, by: (a) the first-in-first-out method, and (b) the last-in-first-out method