Ivanhoe Company was formed on December 1, 2019. The following information is available from Ivanhoe's inventory record for Product X Units Unit Cost $16 2,000 January 1, 2020 (beginning inventory) Purchases: January 5, 2020 January 25, 2020 February 16, 2020 March 15, 2020 2,500 2.200 1.100 2,200 $18 $19 $20 $21 A physical inventory on March 31, 2020, shows 3,400 units on hand, Prepare schedules to compute the ending inventory at March 31, 2020, under LIFO method. Ivanhoe Company COMPUTATION OF INVENTORY FOR PRODUCT X UNDER LIFO INVENTORY METHOD March 31, 2020 Units Unit Cost Total Cost Beginning inventory January 5, 2020 (portion) March 31, 2020, Inventory