Brief Exercise 6-03 X Your answer is incorrect. Try again. In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2)...

Extracted text: Brief Exercise 6-03 X Your answer is incorrect. Try again. In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8. Assuming there are 380 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Weatherall uses a periodic inventory system. FIFO LIFO Cost of the ending inventory