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E8-19 (L03,4) (Alternative Inventory Methods-Comprehensive) Tori Amos Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory

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E8-19 (L03,4) (Alternative Inventory Methods-Comprehensive) Tori Amos Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $20 per unit. None of this inventory was sold in 2016 . Relevant information is as follows. During the year, the following purchases and sales were made. The company uses the periodic inventory method. Instructions Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2017, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $20 per unit.)

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