January 2015	: Initial stock	8 000 units at $8 each
February 2015: Out		300 units.
April 2015	In	: 4100 units unit at $10 each
June 2015 : Out		8 000 units
August2015 In		500 units
October 2015 : Out		1860 units.
December 2015 : Out		350 units
January 2016	In	: 10 000 units at $10 each
February 2016 : Out		800 units
July 2016 : Out		1500 units.
September 2016 Out		7500 units
November 2016 : Out		3000 units
December 2016	: In	: 30000 units at $5

1- Please prepare the inventory statements for the years 2015and 2016 based on the FIFO and WAC methods?

2- Calculate the ending inventory and the CGS for year 2015and 2016 based on the FIFO and WAC methods? what would be the gross margin if the selling price is $15.00

3- In which economic and fiscal situation the LIFO method is the best?