View Policies Current Attempt in Progress In its first month of operations, Monty Corp. made three purchases of merchandise in the following sequence: (1) 150 units at $9. (2) 500 units at $10, and (3) 150 units at $11. Assuming there are 350 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Monty uses a periodic inventory system. FIFO (a) Cost of the ending inventory $ LIFO (b) Cost of the ending inventory $