• Evaluate different inventory valuation methods for ABC Store using the following data:

  Date	Description	Quantity	Unit Cost ($)
  Jan 1	Beginning Inventory	100	$10
  Jan 15	Purchase	200	$12
  Jan 31	Sale	(250)
  Jan 31	Ending Inventory

  Requirements:

  • Calculate the cost of goods sold using the FIFO method.
  • Determine the ending inventory value using the LIFO method.
  • Discuss the advantages and disadvantages of each valuation method.