Scenario 17: Inventory Valuation - Procter & Gamble Co.

Procter & Gamble Co. is a multinational consumer goods corporation. For the fiscal year ended June 30, 2023, they reported the following inventory data:

• Beginning inventory: $10,500 million
• Purchases during the year: $28,700 million
• Sales during the year: $40,200 million
• Ending inventory consists of 40,000 units

Calculate the value of ending inventory using the following methods for Procter & Gamble Co.:

a) First-In-First-Out (FIFO) b) Last-In-First-Out (LIFO) c) Weighted Average

Assume that the cost of each unit of inventory remained constant throughout the year.