Inventory Valuation Methods at Samsung

• Values:
  • Beginning Inventory: $120,000,000
  • Purchases: $70,000,000
  • Sales Revenue: $180,000,000

• Requirements:
  1. Calculate the ending inventory using the LIFO method.
  2. Determine the cost of goods sold (COGS) using the LIFO method.
  3. Discuss the advantages and disadvantages of LIFO in inventory valuation.
  4. Analyze the impact of inventory valuation methods on Samsung’s financial statements.