ABC Co, Ltd. sells only one product. At the beginning of the year, ABC. Co. had 14000 units of inventory at $ 4 per unit. During the year ABC. Co. Ltd. sold 4000 of product at $ 22 per unit. During the year, ABC Co. Ltd. purchased 5000 units of product at $ 7 per unit. How much is the total value of inventory at the end of the year if ABC. Co. Ltd. uses the FIFO method of inventory valuation in a periodic system? Your Answer: Answer At the beginning of the year, Laurier Inc. had a balance in its warranty liability account of $ 45000. During the year Laurier Inc. paid warranty costs of $ 54000. At the end of the year, Laurier Inc. estimated that its future warranty liability was $ 100000 How much is Laurier Inc.'s warranty expense for the year? Your