a. Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost.

b. Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2020, purchase cost is the current cost of inventory. (Hint: the beginning inventory is the base layer priced at $20 per unit.)

Sunland Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $23 per unit. None of this inventory was sold in 2019. Relevant information is as follows. 170 Ending inventory units December 31, 2019 December 31, 2020, by purchase date December 2, 2020 July 20, 2020 170 50 220 During the year 2020, the following purchases and sales were made. Purchases March 15 370 units at $28 July 20 370 units at 29 September 4 270 units at 33 December 2170 units at 35 Sales April 10 270 August 20 370 November 18 220 December 12 270 The company uses the periodic inventory method