Assume your organization has the following inventory changes during the year: Beginning Inventory 15 units valued at

Question:

Assume your organization has the following inventory changes during the year:

Beginning Inventory 15 units valued at $10, 000 e a c h F e b r u a r y p u r c h a s e s 13 u n i t s a t$ 11,500 each June purchases 20 units at $12,000 each Total units used 42 Calculate the value of the ending inventory and the value of the inventory used (the inventory expense) for the year, using both the FIFO and the LIFO method of cost-flow.