Solve the following problem:
In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence:
(1) 200 units at $5,
(2) 400 units at $6, and
(3) 100 units at $7.
Assuming there are 340 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Weatherall uses a periodic inventory system.