Assume your organization has the following inventory changes during the year.

Beginning Inventory: 15 units valued at $10,000 each

February purchases: 13 units at $11,500 each

June purchases: 20 units at $12,000 each

Total units used: 42

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.