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 then ending inventory and the value of the inventory used for the year, using both the FIFO and the LIFO method of cost flow