Question: Inventory Valuation - Amazon.com Inc. Amazon.com Inc. is a global online retailer. For the fiscal year ended December 31, 2023, they reported the following inventory

Inventory Valuation - Amazon.com Inc.

Amazon.com Inc. is a global online retailer. For the fiscal year ended December 31, 2023, they reported the following inventory data:

  • Beginning inventory: $10,000 million
  • Purchases during the year: $25,000 million
  • Sales during the year: $40,000 million
  • Ending inventory consists of 500,000 units

Calculate the value of ending inventory using the following methods for Amazon.com Inc.:

a) First-In-First-Out (FIFO) b) Last-In-First-Out (LIFO) c) Weighted Average

Assume that the cost of each unit of inventory remained constant throughout the year.

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