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Q4. Calculate (a) LIFO ending inventory in 2019 if a firm bought 100 units of inventory at $10 a unit in 2018 and 50 units
Q4. Calculate (a) LIFO ending inventory in 2019 if a firm bought 100 units of inventory at $10 a unit in 2018 and 50 units of inventory at $13 a unit in 2019 and used up $60 units in production in 2019, (b) The book value of an asset at the end of 2019 if it was purchased in 2017 for $500,000 with an expected salvage value of $220,000 and depreciated using sum of the years digits each year (thus the asset has had three full years of depreciation). NOTE THAT a, b are two SEPARATE calculations
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