Inventory Valuation

Using the table below, answer the following questions, ending invetory id 3 cases:

Purchase dates units Cost

percase

Feb. 6. 3 cases. $21.50

10. 2 cases. $20.99

13. 5 cases. $21.75

17. 1 case. $21.90

1. Calculate the value of the above ending inventory using fifo method.

1a. What is the finances implication of using the fifo method.

1. Calculate the value of the above ending inventory using lifo method 2a. What is the finances implication of using the LIFO metho
2. Calculate the value of above ending inventory using average method 3a. What is the finances implication of using average method
3. Calculate the value of above ending inventory using the latest purchase price method 4a. What is the finances implication of using the latest purchase price method
4. Show the formula calculating "inventory turnover" 5a. Why the inventory turnover is important?