Tori Amos Corporation began operations on December 1, 2013. The only inventory transaction in 2013 was the purchase of inventory on December 10, 2013, at a cost of $20 per unit. None of this inventory was sold in 2013. Relevant information is as follows.
Ending inventory units
December 31, 2013 ............................................. 100
December 31, 2014, by purchase date
December 2, 2014 ..................................100
July 20, 2014 .........................................50 .......... 150
During the year, the following purchases and sales were made.

The company uses the periodic inventory method.
Instructions
(a) Determine Ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost.
(b) Determine Ending inventory using dollar-value LIFO. Assume that the December 2, 2014, purchase cost is the current cost of inventory. The beginning inventory is the base layer priced at $20 per unit?

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Purchases 300 units at $24 300 units at 25 200 units at 28 100 units at 30 Sales March 15 July 20 September 4 December 2 April 10 August 20 November 18 December 12 200 300 150 200