B. Inventory Methods
Elk Company has the following units available:
		Sales during 2021.
Beginning Inventory	200 @ $5.00	Feb. 10 100
Feb. 15 purchase	300 @ $5.40	Jun. 1 300
Jul. 1 purchase	300 @ $6.00	Jul. 15 200
1. Calculate the Dec. 31 inventory value using Perpetual LIFO
2. Calculate the Dec. 31 inventory value using average, periodic method
Available to sell
Units
Average
Units inventory
Inventory amount