Inventory Valuation. I am unsure how to figure out this problem. Solution Cost of Goods Sold (COGS) = 70*10+30*8.25+35*7.7+90*8.25 = 1959.50 VALUATION UNDER LIFO METHOD Hence, Under LIFO, closing inventory = 2938 VALUATION UNDER FIFO METHOD Hence, Under FIFO, closing inventory = 2703.25 .

1. Inventory Valuation. I am unsure how to figure out this problem.
Solution
Cost of Goods Sold (COGS) = 70*10+30*8.25+35*7.7+90*8.25
= 1959.50
VALUATION UNDER LIFO METHOD
Hence, Under LIFO, closing inventory = 2938
VALUATION UNDER FIFO METHOD
Hence, Under FIFO, closing inventory = 2703.25
LIFO METHOD
January Purchases Units Per Unit cost Units Sold Closing Inventory Amount
A 120 10 120 1200
B 150 8.25 150 1237.5
C 110 7.7 45 65 500.5
D 180 8.25 180 0 0
560 225 335 2938