Lannister Inc. holds 12,000 units of inventory on January 1, 2017 Under FIFO (first-in, first-out) the inventory lot costs are: Inventory Lot Date Units Cost/Unit Total Cost H 12/13/2016 6,000 $120. $720,000 I 12/22/2016 6,000 $125 $750,000 Under LIFO (last-in, first-out) the same inventory has the following lot costs: Inventory Lot A F 1 Date Units Cost/Unit Total Cost 4/22/2012 2,000 $60 $120,000 10/15/2014 4,000 $84 $336,000 12/22/2016 6,000 $125 $750,000 Under average cost the same 12,000 inventory units have a total cost of $1,320,700. During January 2017, Lannister records the following transactions (in chronological order):