ABX Corp. started their business this year and purchased the following inventory: 15,000 unites on...
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ABX Corp. started their business this year and purchased the following inventory: 15,000 unites on January @ $10 each, 25,000 units in February @ $12 each, 35,000 units in March @ 12 each, 50,000 units in April @ $14 each, 20,000 units in May @ $15 each, 30,000 units in June @ $ 16 each, and 25,000 units in July @ $18 each. During the year they sold 140,000 units of their product. Calculate the value of the ending inventory utilizing the Average Cost, LIFO and FIFO methods.
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