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Inventory at 1/1/22 1000 units at $5 each Purchases: 3/1 400 units at $7 7/1 200 units at $9 12/1 100 units at $10 A

Inventory at 1/1/22 1000 units at $5 each

Purchases:

3/1 400 units at $7

7/1 200 units at $9

12/1 100 units at $10

A physical count on 12/31/22 revealed 1100 units on hand the selling price per unit is $20

1)How much is ending inventory under fifo method?

2)How much is ending inventory under lifo method?

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