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Assume your organization has the following inventory changes during the fiscal year: Beginning Inventory 1,000...

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Accounting

Assume your organization has the following inventory changes during the fiscal year:

Beginning Inventory 1,000 units valued at $10 each

April purchases 600 units at $15 each

August purchases 2,100 units at $17 each

Total Units Remaining 500

Calculate the value of the ending inventory and the value of the inventory used (the inventory expense) for the year using both the FIFO and the LIFO method of cost-flow.

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