Question: Using FIFO, LIFO and weighted average, what is the ending cost of inventory? Be sure to show your work. Inventory Valuation Practice Problem XYZ Central

Using FIFO, LIFO and weighted average, what is the ending cost of inventory? Be sure to show your work. Inventory Valuation Practice Problem XYZ Central Billing Office purchased magnetic storage disks on the following dates and amounts.

                                                             Units | Price ($) | Total ($)

January 1 beginning balance              10          15               150

March 1 purchase                                 30         14               420

May 1 purchase                                      40         14               560

July 1 purchase                                     10            13             130

September 1 purchase                        20             12            240

November 1 purchase                         10             12            120


Total Units purchased are  120

Total $1,620

Ending inventory on Dec. 31,  35 units

Using FIFO, LIFO and weighted average, what is the ending cost of inventory? Be sure to show your work.

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