Calculating the Value of Ending Inventory and Cost of Goods Sold: Lower-of-Cost-or-Market Methocd The following inventory data is taken from the financial records of Fernandez, Inc, a personal computer software manufacturer. No. of Units Unit Cost Total Cost 160,000 $1.00 $160,000 90,000 Beginning inventory (Gan. 1) May 5 60,000 1.50 60,000 2.00 20,000 280,000 250,000 30,000 Purchases: Sept.3 Total available for sale Less: Sales Ending inventory (Dec 31) Expected replacement cost per unit $370,000 1.40 Sales for No. of the year Units Sold Feb. 3 120,000 Jun. 30 30,000 Oct,5 100,000 250,000