Task 1: Calculating Inventory Value - must show work by typing in how you found the amounts for full credit. Just entering the amount gets you partial credit. In this activity, you will need to answer the following questions: Beginning inventory 13 units @ $3.48 = $45.24 Purchased April 4 15 units @ $ 3.51 = $52.65 Purchased April 9 20 units @ $ 3.67 = $73.40 Purchased April 4 10 units @ $ 3.71 = $37.10 Purchased April 4 15 units @ $ 3.74 = $56.10 At the end of April, there were 22 units on hand. Based on the above information, complete the following: __________________________________________________________________________ 1.) The value of the ending inventory using the FIFO method is $ ________________ 2.) The value of the ending inventory using the LIFO method is $ ________________ 3.) The value of the ending inventory using the weighted average method is $ ________________ 4.) The purchase that will have the greatest impact on the weighted average cost method was made on ________________. Why? 2 5.) If the LIFO method is used and if the current market value of its inventory is $80.37, the Lindborg Craft Shop would report the value of its inventory at $____________ 6.) The ________________ method produces the highest value for the ending inventory. 7.) The ________________ method produces the lowest value for the ending inventory