The Wine Hut of Napa Valley, provided you with the following inventory record showing the inventory details during the month of March 2022 for a private reserve Francis Ford Coppola Merlot Wine:

Inventory Detail Coppola Merlot

For Month of March 2022

Bottles Bottle Cost

Inventory, March 1 540 $20.00

Purchases: March 12 110 21.00

March 23 200 22.00

A physical inventory on March 31^st indicates there are 450 units on hand.

Calculate the value of ending inventory as of March 31^st and the cost of goods sold for the month of March assuming the company uses the LIFO inventory system.

Important: You must show your detailed calculations, do NOT just provide an answer.

The Wine Hut of Napa Valley, provided you with the following inventory record showing the inventory details during the month of March 2022 for a private reserve Francis Ford Coppola Merlot Wine: A physical inventory on March 31st indicates there are 450 units on hand. Calculate the value of ending inventory as of March 31st and the cost of goods sold for the month of March assuming the company uses the LIFO inventory system. Important: You must show your detailed calculations, do NOT just provide an