Question: Inventory Valuation - Walmart Inc. Walmart Inc. is a multinational retail corporation. For the fiscal year ended January 31, 2023, they reported the following inventory

Inventory Valuation - Walmart Inc.

Walmart Inc. is a multinational retail corporation. For the fiscal year ended January 31, 2023, they reported the following inventory data:

  • Beginning inventory: $20,000 million
  • Purchases during the year: $50,000 million
  • Sales during the year: $70,000 million
  • Ending inventory consists of 600,000 units

Calculate the value of ending inventory using the following methods for Walmart 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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