Inventory Valuation - Amazon.com Inc.

Amazon.com Inc. is a global online retailer. For the fiscal year ended December 31, 2023, they reported the following inventory data:

• Beginning inventory: $10,000 million
• Purchases during the year: $25,000 million
• Sales during the year: $40,000 million
• Ending inventory consists of 500,000 units

Calculate the value of ending inventory using the following methods for Amazon.com Inc.:

a) First-In-First-Out (FIFO) b) Last-In-First-Out (LIFO) c) Weighted Average

Assume that the cost of each unit of inventory remained constant throughout the year.