The following information is available for Massey Company: 
Assume that Massey uses a periodic inventory system and that there are 700 units left at the end of the month.
Instructions
Compute the cost of ending inventory under the
(a) FIFO method.
(b) LIFO method.
Definitions:
Single-Parent Homes
Households in which children live with only one of their parents due to various reasons such as divorce, death, or single-parent adoption.
College Education
An advanced level of formal learning that occurs after secondary education, typically provided by universities and colleges.
Two-Parent Homes
Describes households where children are raised with the presence and involvement of both parents.
Study
The act of devoting time and attention to gaining knowledge of an academic subject, especially through books, research, or observation.
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