ZIX Corporation is conducting an audit of its computerized inventory system. Below are the hypothetical data inserted by an accountant. The program is using the Perpetual Inventory system.

Transaction Units Cost per Unit

Beginning Inventory 10 $10

Purchase, day 1 5 $11

Sale, day 2 6

Purchase, day 3 8 $12

Sale, day 4 9

The computer program shows the following Ending Inventory value:

LIFO, Perpetual, $80

Required:

Make your computations!

Confirm or deny this value!