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Calculate ending inventory value using both lifo and fifo

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Reference no: EM132542590

Balance as of May 1, 2017 800 @ 104

Purchases:

May 7 19000 @ 105

June 11 17000 @ 106

July 23 3200 @ 103

December 15 5100 @ 107

This company uses a periodic inventory system, and a physical inventory count on Dec 30 shows 8300 units on hand.

Question 1: Using this information, calculate ending inventory value using both LIFO and FIFO

Reference no: EM132542590

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