View Policies Current Attempt in Progress In its first month of operations, Lily Company made three purchases of merchandise in the following sequence: (1) 300 units at $7, (2) 430 units at $8, and (3) 220 units at $9. Assuming there are 380 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Lily uses a periodic inventory system. FIFO LIFO Cost of the ending inventory $ $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit