5. The BendKnee Corporation sells artificial knees to hospitals and surgery centers and has the following inventory charges during the year: Beginning Inventory 30 units valued at $10,000 each March purchases 25 units at $11,500 each October purchases 20 units at $12,000 each Total Units Used 40 units Calculate the value of the ending inventory and the value of the inventory used (the inventory expense) for the year using FIFO and LIFO. FIFO end inventory_______________FIFO Inventory expense___________________ LIFO end Inventory_______________LIFO Inventory expense___________________ For the purposes of this question, assume BendKnee uses LIFO. At year-end, the company decides that it no longer wants to carry the product above, so it sells the ending inventory to Knees R Us for $50,000 in cash. Please book the journal entry for that transaction for BendKnee Corporation