Inventory Valuation Methods at Walmart

• Values:

• FIFO Cost of Goods Sold: $1,000,000
• LIFO Cost of Goods Sold: $900,000
• Weighted Average Cost of Goods Sold: $950,000
• Requirements:

0. Calculate the ending inventory under FIFO, LIFO, and weighted average methods.
1. Analyze the impact of inventory valuation methods on net income and taxes.
2. Discuss the advantages and disadvantages of each method for Walmart.
3. Recommend the most suitable inventory valuation method for Walmart.