Homework Answers
The value of ending inventory using LIFO is $843
Explanation :- In LIFO (Last In First Out), what goods received in last goes to out first. As per LIFO value of ending inventory is calculated follow as-
| Units In | Units Out | Remain units | Value of Remain Units |
| Third Purchase 19 units @ $ 57 | 19 units | 0 units | $ 0 |
| Second Purchase 24 units @ $ 57 | 24 units | 0 units | $ 0 |
| First Purchase 18 units @ $ 51 | 9 units | 9 units | (9 units * $ 51) $ 459 |
| Beginning Inventory 8 units @ $ 48 | 0 units | 8 units | (8 units * $ 48) $ 384 |
| Total 69 units | 52 units | 17 units | $ 843 |
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