Will the results in (a) be higher or lower than the results under FIFO and LIFO? Ending inventory is lower than FIFO $ and higher than LIFO $ In contrast, cost of goods sold is higher than FIFO $ and lower than LIFO $ Sheridan Company reports the following for the month of June. Units Unit Cost Total Cost June 1 Inventory 200 $7 $1,400 12 Purchase 430 8 3,440 23 Purchase 370 9 3,330 30 Inventory 200