In its first month of operations, Larkspur, Inc. made three purchases of merchandise in the following sequence: (1) 235 units at $10, (2) 470 units at $11, and (3) 435 units at $12. Assuming there are 170 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Larkspur uses a periodic inventory system.

FIFO
(a) Cost of the ending inventory
$enter the cost of inventory as per FIFO in dollars

LIFO
(b) Cost of the ending inventory
$enter the cost of inventory as per LIFO in dollars