In its first month of operations, Blossom Company made three purchases of merchandise in the following sequence: (1) 250 units at $ 5, (2) 400 units at $ 6, and (3) 450 units at $ 7. Assuming there are 100 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Blossom uses a periodic inventory system.

James is an employee in the widget inspection department of xyz systems, a government contractor. james was part of a 3-person inspection team that found a particular batch of widgets did not meet the exacting requirements of the u.s. government. in order to meet the tight deadline and avoid penalties under the contract, james' boss demanded that the batch of widgets be sent in fulfillment of the government contract. when james found out, he went to the vice president of the company and reported the situation. james was demoted by his boss, and no longer works on government projects. james has a: