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Lucky Lulu had 2,000 units on hand at December 31st. In addition, it has the following inventory information: Units Cost per unit Total Value $3,000

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Lucky Lulu had 2,000 units on hand at December 31st. In addition, it has the following inventory information: Units Cost per unit Total Value $3,000 Beginning Inventory June 1 purchase September 5 purchase Total 1,000 5,000 4,000 10,000 $3.00 $3.10 $3.15 $12,600 Determine the cost (value) of ending inventory (2000 units) under LIFO and FIFO methods: LIFO ending inventory $ FIFO ending inventory $

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