Using Excel to Determine Ending Inventory
PROBLEM
In its first month of operations, McLanie Company made three purchases of merchandise in the following sequence:
	Purchase $	Units		Unit Cost
	1	300	at	$ 6.00
	2	400	at	$ 8.00
	3	500	at	$ 9.00
McLanie uses a periodic inventory system. It also provided the following information:
	Units on hand		200

Compute the cost of the ending inventory under the

a. FIFO method

Compute the cost of the ending inventory under the

b. LIFO method