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Sanchez Company was formed on January 1 of the current year and is preparing the annual financial statements dated December 3 1 , current year.

Sanchez Company was formed on January 1 of the current year and is preparing the annual financial statements dated December 31, current year. Ending inventory information about the four major items stocked for regular sale follows:
\table[[,ENDING INVENTORY, CURRENT YEAR],[,\table[[Unit Cost When],[Quantity],[on Hand]],\table[[Realizable],[Acquired],[(FIFO)]],\table[[Value (Market) at],[Itear-End]]],[A,21,$11,$16
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