Inventory Valuation - The Home Depot, Inc. The Home Depot, Inc. is a home improvement retailer. For
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Inventory Valuation - The Home Depot, Inc.
The Home Depot, Inc. is a home improvement retailer. For the fiscal year ended January 31, 2023, they reported the following inventory data:
- Beginning inventory: $30,000 million
- Purchases during the year: $70,000 million
- Sales during the year: $100,000 million
- Ending inventory consists of 900,000 units
Calculate the value of ending inventory using the following methods for The Home Depot, 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.
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