Walmart uses the following inventory data for the year 2023:

Item	Units	Unit Cost ($)
Beginning Inventory	1,000	10
Purchases	5,000	12
Ending Inventory	2,000

Requirements:

1. Calculate the cost of ending inventory using the FIFO method.
2. Determine the cost of ending inventory using the LIFO method.
3. Compute the cost of goods sold using the average cost method.
4. Analyze the impact of each inventory valuation method on the financial statements.
5. Evaluate the effects of inflation on inventory costs under FIFO and LIFO.