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3. Calculate the inventory using FIFO and Lifo: Ending inventory 45,000 units Purchased 2/1 40,000 @ $15.50; 4/1 57,000 @ $16.60; June 1 42,000 @

3. Calculate the inventory using FIFO and Lifo: Ending inventory 45,000 units Purchased 2/1 40,000 @ $15.50; 4/1 57,000 @ $16.60; June 1 42,000 @ $16.60; 9/1 29,000@ $16.30

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