compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Ceretti…

In its first month of operations, Ceretti Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $8, and (3) 500 units at $9. Assuming there are 300 units on hand, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Ceretti uses a periodic inventory system.

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