What is the value of ending inventory? (Note: it will be the same for FIFO Periodic and FIFO Perpetual)
Beginning inventory
+ Purchase
+ Purchase
(Less COGS)
Ending Inventory

1. Marx, Inc. has the following inventory transactions in January:

Date	Transactions	Units	Unit Cost
January 1	Beginning inventory	1,000	$10
January 7	Purchase	100	$20
January 9	Sale	800
January 21	Purchase	200	$30
January 24	Sale	40

LIFO Periodic
Cost of Goods Sold Calculated at period end
Units	Unit Cost	Total Cost
200
800
TOTAL

LIFO Perpetual
Cost of Goods Sold Calculated each time there is a sale
Date of Sale	Units	Unit Cost	Total Cost
TOTAL